India: Sponge iron prices rise on higher offers - 5 Apr

Sponge iron prices in India rose in the range of INR 50-350/tonne (t) in key domestic markets today on account of higher offers floated by suppliers.

A total of 19,600 t of transactions were recorded today as against 21,750 t on 4 April.

Rise in semis prices

Billets prices up: Due to an increased purchase enquiries and rising billets prices, which increased by INR 100-450/t across regions, sponge iron prices rose.

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