India: Sponge iron prices show mixed trends amid market volatility - 29 Dec

Domestic sponge iron prices increased by INR 50-250/tonne (t) d-o-d in some key regions today. Meanwhile, sponge iron prices in central and south India fell by INR 50-200/t d-o-d on weak buying activity.

PDRI market prices closed at a range of INR 25,100-27,300/t and CDRI prices, at INR 27,250-31,400/t.

About 14,050 tonnes (t) of sponge iron transactions were recorded in the country on Friday compared to 16,860 t on 28 December.

Steel prices have been extremely volatile, making pricing certainty difficult for customers. The market displayed conflicting trends today, as a result of continued volatility.

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