PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63%) index for Raipur, inched down by INR 50/t to INR 9,550/t ($100/t) DAP. BigMint recorded a few deals totalling around 60,000 t, concluded at INR 9,300-9,500/t ($98-99/t) exw-Raipur by local producers.
BigMint’s billet index extended its upward trend, increasing by INR 300/t d-o-d to INR 39,350/t exw-Raipur, supported by improved trade activity and firm market sentiment across northern India. The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in Raipur was assessed at INR 14,350/t.
Indias sponge iron prices increased by INR 100-500/t d-o-d across major regions, supported by improved sentiment and stronger buying activity witnessed in the previous trading session. In the key Raipur market, sponge iron prices rose by around INR 200/t to approximately INR 25,000/t ex-works. BigMint recorded sponge iron trade volumes at around 12,000 t.
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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