Sponge iron prices across major Indian markets rose by INR 100-300/t d-o-d. Trading volumes saw a sharp uptick, with an estimated 20,000 t of sponge iron booked.
BigMint’s billet index recovered by INR 250/t d-o-d, settling at INR 35,800/t exw-Raipur. The PDRI-to-billet spread for standalone induction furnaces in Raipur stood at INR 12,050/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 300/tonne (t) d-o-d to INR 35,000/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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