BigMint’s billet index recorded a modest decline of INR 100/tonne (t) d-o-d, settling at INR 35,900/t exw-Raipur. The PDRI-to-billet conversion spread for the standalone induction furnaces in Raipur was assessed at INR 12,000/t.
India’s sponge iron market witnessed mixed price movements in south India, sponge iron prices inched up by INR 100-500/tonne (t) and east India witnessed a correction of INR 50-150/t. Daily trade volumes were estimated at 12,000 t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, inched up by INR 100/tonne (t) d-o-d to INR 34,800/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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