India: Sponge iron prices rise on active enquiries - 14 Feb
...
Sponge iron prices in some key locations in India increased by INR 100-200/t on 14 February, 2024. However, prices in Raipur and Bellary witnessed a slight drop by INR 50-150/t.
PDRI market prices closed at a range of INR 24,500-27,000/t and CDRI prices, at INR 25,500-30,600/t.
Trading activity increased on improved demand across regions.
About 17,400 tonnes (t) of sponge iron transactions were recorded in the country on Wednesday compared to 10,250 t on 13 February.
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
