The Indian sponge iron market began October on a subdued note, with prices declining by INR 50-150/t across major markets. Around 5,000 tonnes of deals were concluded across India.
BigMint’s billet index rose marginally by INR 50/t d-o-d, settling at INR 36,200/t exw-Raipur.The conversion spread from PDRI to billets for standalone induction furnaces in Raipur was assessed at INR 12,100/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained flat d-o-d at INR 34,500/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.
Leave a Reply