Indian sponge iron prices rose by around INR 100-500/t d-o-d across major regions. The improvement was driven by firmer raw material costs, increased buyer enquiries, and an overall positive market sentiment. Trade activity was also robust, with approximately 36,000 t of sponge iron traded.
BigMint’s billet index increased sharply by INR 450/t d-o-d to INR 38,250/t exw-Raipur. Transactions for approximately 5,800 t of billets 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 13,800/t.
HMS (80:20) scrap prices in Chennai remained unchanged at INR 30,800/t, with no movement observed on either a d-o-d or w-o-w basis, according to BigMint’s latest assessment.
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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