India’s sponge iron market recorded a sharp price hike of INR 100-600/tonne (t) d-o-d, around 11,000 t of sponge iron were booked pan-India, reflecting limited but selective buying support amid the sharp price rally.
BigMint’s billet index increased by INR 300/t day-on-day (d-o-d), settling at INR 36,800/t exw-Raipur. The conversion spread from PDRI to billets for standalone induction furnaces in Raipur was assessed at INR 12,400/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, rose INR 400/tonne (t) to INR 34,300/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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