India: Sponge iron prices rise on active buying - 19 Mar
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- Active buying enquiries at current offers
- Bulk bookings seen from central and eastern regions
India's sponge iron prices moved up in the range of INR 50-250/t in almost all key regions, driven by active spot trading and buying interest at current price levels. However, sponge iron prices only in the southern region dropped by INR 300/t.
PDRI market prices closed at a range of INR 25,000-26,500/t and CDRI prices, at INR 26,350-30,800/t.
South African RB2 prices remained stable today. Non coking RB2 (5500 NAR) exw Gangavaram stood at INR 9,400/t ($113/t).
Bulk booking was seen especially from the eastern and central regions today.
About 21,650 tonnes (t) of sponge iron transactions were recorded in the country on Tuesday compared to 16,780 t on 18 March.
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
