Sponge iron prices showed a mixed trend, with stability in the central region, a marginal decline of around INR 100/t in the east, and an uptick of INR 200-300/t in the south. Trade volumes were estimated at around 3,600 t.
BigMint’s billet index declined by INR 250/t day-on-day to INR 41,000/t exw-Raipur. The conversion spread from pellet-based sponge iron (PDRI) to billets for standalone induction furnaces in Raipur was assessed at around INR 14,300/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, decreased by INR 100/tonne (t) d-o-d to INR 38,500/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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