India’s sponge iron market witnessed mixed price movements: prices in South India edged up by INR 200-300/t, while the eastern and central regions saw a decline of INR 50-200/t. Daily trade volumes were estimated at around 11,000 tonnes.
BigMint’s billet index recorded a marginal increase of INR 50/tonne (t) d-o-d, settling at INR 36,800/t exw-Raipur. The PDRI-to-billet conversion spread for standalone induction furnaces in Raipur was assessed at INR 14,250/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, declined by INR 100/tonne (t) d-o-d to INR 34,900/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