India: Sponge iron prices show mixed trends amid market volatility - 27 Jul

Domestic sponge iron prices in India inched up in the range of INR 50/tonne (t) d-o-d in some key locations while prices, specifically in Mandi Gobindgarh, Raigarh and southern region markets, dropped marginally by INR 50-100/t d-o-d.

Steel prices have been highly fluctuating, making it difficult for buyers to attain clarity on prices. This has instilled caution among buyers, forcing them to procure material only as per requirement and that, too, after considerable bargaining. Thus, in short, the market exhibited mixed trends today owing to volatility.

A total of 12,850 tonnes (t) of sponge iron transactions were recorded today across the country as against 14,540 t recorded on 26 July.

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