India: Sponge iron prices show mixed trends amid weak buying - 17 Jan

• Sponge iron demand weakens in most regions
  
  
• Tags rise in some markets on slight buying activity
  
  

India's sponge iron prices fluctuated by INR 50-100/tonne (t) across regions.

This fluctuation was driven by varying demand in the semi-finished steel segment. Although buying interest for sponge iron was weaker d-o-d across most regions, certain markets witnessed a minor price hike because of some nominal buying activity.

PDRI prices stood at INR 22,900-25,700/t, while CDRI offers were assessed at INR 25,600-30,200/t at the close of today's session.

Deals for about 4,800 t of sponge iron were recorded today, compared to 5,850 t on 16 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