Sponge iron prices dip in India; Raipur records 12,000 t trade volumes today - 22 Dec

Sponge iron prices in India decreased by INR 50-400/t on 22 December, 2023.

PDRI market prices closed at a range of INR 25,650-28,150/t and CDRI prices, at INR 27,500-32,000/t.

Trading activity increased on improved demand at lower prices, especially in the central region (Raipur) which saw over 12,000 tonnes of transactions.

About 27,350 tonnes (t) of sponge iron transactions were recorded in the country on Friday compared to 3,850 t on 21 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