India: Sponge iron prices witness mixed trends - 23 Dec
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- Buyers wait and in range-bound market
- Transaction volumes remain stable
The Indian sponge iron market showed mixed trends, with prices decreasing in Ramgarh, Hyderabad and Chennai by INR 50-350/t, but increasing by INR 100-450/t in other locations.
Purchase activity stayed low as buyers were complacent about previous bookings and a stable market trend, anticipating future declines.
PDRI prices were assessed at INR 23,500-26,950/t and CDRI, at INR 26,300-30,900/t.
Approximately 5,000 tonnes (t) of sponge iron transactions were recorded in the country on 23 December.
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
