PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63%) index for Raipur, remained stable at INR 9,100/t ($96/t) DAP. Pellet makers in Raipur kept offers stable for the Fe 62.5/63% (0.5%) grade at INR 8,900-9,000/t ($94-95/t) exw.
India’s sponge iron market exhibited a mixed trend, with prices declining by INR 50-250/t across most regions. sponge iron trade volumes declined to around 11,100 t.
BigMint’s billet index declined marginally by INR 150/t d-o-d to INR 38,950/t exw-Raipur. The conversion spread between pellet-based direct reduced iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster was assessed at INR 14,900/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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