Indian sponge iron prices declined d-o-d by INR 50-300/tonne (t) in most regions due to weak sentiment and sluggish demand. Daily trade volumes were estimated at 9,600 t.
BigMint’s billet index rose marginally by INR 50/t d-o-d to INR 34,850/t exw-Raipur. The conversion spread from PDRI to billets for standalone induction furnaces in Raipur was assessed at INR 12,300/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained stable d-o-d at INR 33,500/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.
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