BigMint’s billet index increased sharply by INR 550/t d-o-d to INR 40,950/t exw-Raipur. The conversion spread between PDRI and billets for standalone induction furnaces in Raipur narrowed to INR 12,450/t.
Domestic sponge iron prices rose by around INR 100-1,300/t d-o-d across regions. PDRI prices increased by around INR 400-1,100/t. In Raipur, PDRI prices settled at approximately INR 28,500/t exw-Raipur, up by INR 600/t. CDRI prices also rose by around INR 100-1,300/t, with Raigarh recording a significant increase of INR 1,300/t. BigMint recorded a trade volume of around 22,000 t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, improved by INR 600/tonne (t) d-o-d to a four-month high of INR 40,500/t DAP. In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 3,900-4,300/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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