India: Sponge iron prices rise d-o-d in key locations - 26 Jul

Sponge iron prices in India rose by INR 50-150/tonne (t) across markets today. While in some regions like Ramgarh, Hyderabad and Mandi prices fell by INR 50-100/t.

PDRI market prices closed at the range of INR 23,900-26,350/t and CDRI prices at INR 26,000-30,000/t.

South African non-coking RB2 (5500 NAR) coal prices remained firm at INR 9,650/t ($115/t) exw Gangavaram.

Sponge prices increased in some key areas due to the support of steel prices. However, volumes reported for today remained at a moderate level.

About 23,650 t of sponge iron transactions were recorded in the country today compared to 26,150 t on 25 July.

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%.

Click for detailed methodology

T1 - Trade, T2 - Offer/Bid/Indicative