India: Sponge iron prices witness mixed trends, buying activity improves - 28 Feb
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Sponge iron prices in India witnessed a decrease of INR 50-150/t in some major regions on 28 February, 2024.
However, there were exceptions in regions like eastern and northern, where a marginal rise of INR 50-200/t was noticed throughout the day, driven by an upward trend in the semi-finished segment today.
PDRI market prices closed at a range of INR 24,600-27,350/t and CDRI prices, at INR 26,350-31,200/t.
Buying activity improved at current price levels, and active bookings were seen from the central and eastern regions.
About 15,900 tonnes (t) of sponge iron transactions were recorded in the country on Wednesday compared to 6,750 t on 27 February.
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
