Domestic sponge iron prices increased by around INR 300-750/t across regions, supported by improved buying interest. Activity remained relatively steady in the central and southern regions, with buyers continuing to make purchases at higher price levels. BigMint recorded sponge iron trade volume at around 21,950 t.
BigMint’s billet index increased sharply by INR 1,100/t d-o-d to INR 41,700/t exw-Raipur, supported by stronger price cues from neighbouring markets, rising raw material costs and higher production expenses. The conversion spread between sponge iron (P-DRI) and billets for standalone induction furnaces in Raipur narrowed to INR 12,700/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, improved by INR 600/tonne (t) d-o-d to INR 41,300/t DAP.
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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