India: Sponge iron prices show mixed trends - 19 Dec

The Indian sponge iron market showed mixed trends today, with prices increasing in Ramgarh and Bellary by INR 50-400/t but dropping by INR 100-200/t in other locations.

Purchase activity was low because buyers were apprehensive due to past bookings and the market's future stability, anticipating a decline in prices.

PDRI prices were assessed at INR 23,700-27,000/t and CDRI prices at INR 26,500-30,800/t.

Approximately 9,900 tonnes (t) of sponge iron transactions were recorded in the country on Thursday compared to 14,600 t on 18 December .

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