India's sponge iron prices increased in the range of INR 100-300/tonne (t) across key locations, largely due to rising steel prices.
PDRI prices were assessed at INR 23,800-25,800/t at the close of trading, while CDRI prices stood at INR 25,700-30,000/t.
South African non-coking coal prices remained stable today, with RB2 (5500 NAR) priced at INR 9,400/t ex-works Gangavaram.
Despite price hikes, bookings remained moderate across regions. Purchasers remained cautious, therefore, steel prices remained range-bound.
Approximately 8,500 t of sponge iron transactions were recorded in India today, from 5,100 t on 12 September.