BigMint’s billet index edged lower by INR 100/t day-on-day to INR 38,800/t exw-Raipur. The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 14,700/t.
Indian sponge iron prices declined by INR 50-200/t d-o-d across major regions on subdued demand and weak market sentiment. According to BigMint’s assessment, sponge iron trade volumes stood at around 11,400 t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, dipped by INR 200/tonne (t) d-o-d to INR 37,900/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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