India: Sponge iron prices show mix trends amid volatile steel market - 27 May

Sponge iron prices across India witnessed mix trends amid the volatile steel market and fluctuating prices (ranging INR 50-200/t). Meanwhile, sponge prices in central India showed an uptick of INR 150-200/t d-o-d.

Demand in the key markets remained subdued. Spot trade volumes declined d-o-d as buying activity was weak and bids were on the lower side.

A total of 5,600 t of transactions were recorded today as against 11,200 t on 26 May.

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