India: Sponge iron prices show mixed trends even as trade volumes drop - 25 Oct

Sponge iron prices in India rose by INR 50-300/tonne (t) across markets today. However, in Raigarh and Rourkela prices dropped INR 50-100/t.

PDRI prices were assessed at INR 24,700-27,000/t and CDRI prices at INR 27,400-32,600/t.

South African non-coking, RB2 (5500 NAR), coal prices remained firm at INR 9,500/t exw Gangavaram.

Today, DRI prices increased as steel prices offers rose in the first half of the trading session. Low to moderate trade activity was witnessed in various regions. Transaction volumes dropped as bid-offer disparity prevailed across markets.

About 5,800 t of sponge iron transactions were recorded in the country on Friday compared to 14,900 t on 24 October.

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