PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63%) index for Raipur, inched up by INR 50/t to INR 9,550/t ($99/t) DAP. Deals for around 21,000 t of pellets were recorded by Raipur-based sellers at INR 9,400/t exw.
The Indian sponge iron market witnessed a strong positive trend today, with prices increasing by INR 50-350/t d-o-d across key regions, supported by improved regional demand and aggressive buying interest. BigMint recorded sponge iron trade volume of around 36,800 t.
BigMint’s billet index increased by INR 250/t d-o-d to INR 37,800/t exw-Raipur. Approximately 5,100 t of billet transactions were concluded in the Raipur region. The conversion spread between pellet-based direct reduced iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster was assessed at INR 14,250/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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