BigMint’s billet index increased by INR 200/t d-o-d to INR 39,000/t exw-Raipur. Around 3,300 t of billet deals were concluded during the session. The conversion spread between PDRI and billets for standalone induction furnaces in Raipur narrowed further to INR 12,700/t.
Domestic sponge iron prices strengthened, with prices increasing by around INR 50-400/t across key regions. BigMint recorded trade of around 24,000 tonnes.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained stable d-o-d at INR 38,500/tonne (t) DAP. In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 3,800-4,200/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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