India: Sponge iron prices show slight volatility amid subdued demand - 16 Jan

• Finished segment sees limited sales
  
  
• Market sentiments remain cautious
  
  

India's sponge iron market witnessed minor fluctuations in spot offers, to the tune of INR 50-150/tonne (t) across various regions.

However, buying activity was subdued due to lacklustre sales in the finished steel segment throughout the trading session, which kept overall market sentiments cautious.

PDRI prices stood at INR 22,900-25,500/t today, while CDRI offers were assessed at INR 25,500-30,300/t.

Deals for about 5,850 t of sponge iron were recorded today compared to 8,900 t on 15 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