India’s sponge iron prices declined by INR 50-300/t d-o-d across major regions amid subdued demand conditions and weaker market sentiment. In the benchmark Raipur market, prices fell by INR 150/t to INR 25,100/t ex-works. BigMint recorded sponge iron trade volumes of around 6,100 t, down sharply from approximately 9,800 t.
BigMint’s billet index declined by INR 350/t day-on-day to INR 39,200/t exw-Raipur. The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 14,100/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, decreased by INR 100/tonne (t) d-o-d to INR 38,200/t DAP. Scrap prices in the region fell by INR 100-200/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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