According to BigMint’s latest bi-weekly assessment, Fe 62% iron ore concentrate was assessed at INR 4,600/t ($48/t) ex-works. Meanwhile, indicative offers for Fe 63% concentrate were heard at INR 4,800-4,900/t ($50-52/t) ex-works.
The Indian sponge iron market remained under pressure with prices declining by INR 50-100/t across all major regions due to weak buying interest. In Raipur, sponge iron prices were assessed at around INR 23,700/t. BigMint recorded around 10,000 t of PDRI deals.
BigMint’s billet index declined by INR 150/t d-o-d to INR 38,800/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 13,100/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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