India’s sponge iron prices declined by INR 100-300/tonne (t) d-o-d across regions. BigMint recorded sponge iron trade volumes of around 6,300 t.
BigMint’s billet index in Raipur declined further by INR 450/t day-on-day to INR 41,200/t exw. The conversion spread from pellet-based sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was recorded at around INR 15,550/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, dipped by INR 200/tonne (t) d-o-d to INR 39,200/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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