India: Sponge iron prices show mixed trend in sluggish market - 8 Apr

• Prices fall INR 50-150/t in some markets
  
  
• Transaction volumes decline sharply
  
  

Sponge iron prices showed a mixed trend today, While prices edged down today by INR 50-150/t in some major locations, these rose by INR 50-200/t in markets like Rourkela, Ramgarh, and Hyderabad.

PDRI market prices closed at a range of INR 27,150-29,400/t and CDRI prices, at INR 28,150-33,200/t.

South African RB2 prices remained stable today. Non-coking coal grade RB2 (5500 NAR) exw- Gangavaram stand at INR 9,400/t ($113/t).

Limited trading activities were reported, as buyers had already placed enough orders in the previous week. So, they came forward for only need-based bookings.

About 10,100 tonnes (t) of sponge iron transactions were recorded in the country on Monday compared to 27,650 t on 5 April.

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