BigMint’s billet index declined for the second consecutive day, falling by INR 150/t d-o-d to INR 39,850/t exw-Raipur. The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in Raipur was assessed at INR 14,350/t.
India’s sponge iron prices declined by INR 100-400/t d-o-d across major markets , amid subdued trading activity and weak buyer participation. In the benchmark Raipur market, sponge iron prices fell by INR 250/t to INR 25,450/t ex-works.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, dipped by INR 300/tonne (t) d-o-d to INR 38,100/t DAP. Scrap prices in the region fell by INR 100 to INR 300/t d-o-d.
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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