India’s sponge iron market witnessed a slight upward trend, with prices increasing by INR 50-400/t across regions, while most markets remained largely stable. In the key Raipur market, prices rose by INR 150/t to INR 25,700/t ex-works. BigMint recorded trade volumes of around 10,000 t.
BigMint’s billet index in Raipur extended its upward trend, rising by INR 200/t day-on-day to INR 42,150/t exw. The conversion spread from pellet-based sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at around INR 16,450/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, surged by INR 200/t d-o-d to INR 39,200/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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