BigMint’s billet index gained INR 250/tonne d-o-d, settling at INR 37,750/t exw-Raipur. The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in Raipur was assessed at INR 13,250/t, showing a marginal improvement over the previous session.
Sponge iron prices in India moved up today, with spot offers rising by INR 100-450/tonne across major regions. Around 11,300 t of sponge iron deals were reported nationwide.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 100/t d-o-d to INR 35,700/t DAP.
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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