India: Sponge iron prices show mixed trends amid modest buying in semis - 15 Jan

• Prices rise d-o-d in only Bellary, Hyderabad
  
  
• Transaction volume increases slightly d-o-d
  
  

India's sponge iron market experienced mixed sentiments today, with prices declining by INR 50-300/t d-o-d across most locations. However, the Bellary and Hyderabad regions bucked the trend, witnessing a price increase of INR 100-150/t d-o-d.

Despite overall weakening market sentiments, moderate buying activity was observed in the semi-finished steel segment at lower offers during today's trading session.

PDRI prices stood at INR 23,000-25,600/t today, while CDRI offers were assessed at INR 25,450-30,300/t at the end of today's session.

Deals for about 10,200 t of sponge iron were recorded today compared to 8,900 t on 14 January.

Rationale

Prices have been derived based on data sets of transactions, offers, bids, and indicative prices. Transactions are considered as T1 and given a weightage of 50%, whereas other data sets are considered T2 and given a weightage of the balance 50%.

Click here for detailed methodology

T1 - Trade, T2 - Offer/Bid/Indicative