The Indian sponge iron market remained under pressure on 21 August 2025, with spot prices slipping further by INR 50-100/t across major production hubs. About 12,000 t of sponge iron changed hands during the day, largely through need-based procurement at the lowest available levels.
BigMint’s daily billet index declined by INR 200/tonne (t) d-o-d, settling at INR 37,500/t exw-Raipur. The conversion spread from PDRI to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 13,500/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained flat d-o-d at INR 35,600/tonne (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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