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India: Sponge iron prices rise on moderate trading - 10 Feb

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Sponge Iron

BigMint Bureau

92 Reads

10 Feb 2025, 19:23 IST

India: Sponge iron prices rise on moderate trading - 10 Feb

Higher offers lead to need-based buying

Average transaction volume seen today

Sponge iron prices in India rose by INR 100-650/tonne (t) d-o-d across markets today, with moderate trading observed.

PDRI prices closed at INR 23,850-26,700/t, while CDRI was at INR 26,200-30,600/t.

Due to the price increase, market players engaged in need-based procurement today. As a result, an average volume of transactions was noted during the day.

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 here for detailed methodology