India: Sponge iron prices rise d-o-d despite moderate bookings - 4 Oct
...
India's sponge iron prices increased by INR 100-300/tonne (t) across key locations.
PDRI prices were assessed at INR 27,650-28,500/t at the close of trading, while CDRI prices stood at INR 28,800-32,800/t.
South African non-coking coal prices remained stable today, with RB2 (5500 NAR) priced at INR 9,350/t ex-works Gangavaram.
Despite the price hikes, bookings remained moderate across the regions. Buyers were cautious due to the continuous price rise, with only need-based procurement observed d-o-d.
Approximately 8,750 t of sponge iron transactions were recorded in India on Friday, down from 33,900 t on 12 September.
Rationale -
Prices have been derived based on transactions, offers, bids and indicative price data sets. Transactions are considered as T1 and given a weightage of 50% whereas other data sets are considered as T2 and given a weightage of the balance 50%.
T1 - Trade, T2 - Offer/Bid/Indicative
