BigMint’s bi-weekly domestic pellet (Fe63%) index for Raipur, increased by INR 200/t to INR 9,900/tonne (t) ($115/t) DAP, deals for around 24,000 t of raw pellets were concluded by Raipur-based suppliers at INR 9,600-9,800/t exw.
BigMint’s billet index recorded a sharp d-o-d rise of INR 650/tonne (t), settling at INR 38,150/t exw-Raipur. The conversion spread from sponge iron (PDRI) to billets in the Raipur induction furnace cluster narrowed further to INR 12,700/t.
India’s sponge iron market registered a sharp upward movement, with spot prices increasing by INR 100-850/tonne (t) d-o-d across major regions. Approximately 17,950 t sponge iron bookings were reported.
The following sheet summarises confirmed trades /offers of iron and steel products collected by BigMint to help our users keep track of day-to-day trade dynamics.
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