India: Sponge iron prices show mixed trends - 11 Sep

• South African RB2 prices remain stable
  
  
• Market sees 7,300 t of sponge iron transactions
  
  

Indian sponge iron prices showed mixed trends today. Prices rose by INR 100/t in Raipur and INR 400/t in Jharsuguda respectively. However, prices in other locations fell by INR 50-250/t.

A slight improvement in buying activity was observed due to limited supply in Central India, although overall trades remained moderate throughout the day.

PDRI market prices closed within the range of INR 23,700-26,900/t, while CDRI prices were at INR 25,750-29,800/t.

South African RB2 prices remained stable, with non-coking RB2 (5500 NAR) ex-Gangavaram assessed at INR 9,400/t.

Approximately 7,300 t of sponge iron transactions were recorded across the country on Wednesday, compared to 6,950 t on 10 September.

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