PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63%) index for Raipur remained stable at INR 11,000/t DAP Raipur. Prices continued to hold firm, supported by strength in the sponge iron and semi-finished steel segments. Major pellet sellers largely maintained their offers at around INR 10,800-10,900/t ($114-115/t) ex-works. Around 13,000-15,000 t of pellet deals were reported during the assessment period.
The domestic sponge iron market witnessed a slightly upward movement, with prices rising by around INR 50-500/t across key regions, led mainly by the Chennai market. In Raipur, BigMint’s PDRI assessment settled at around INR 28,650/t, up by INR 50/t from the previous day. BigMint recorded sponge iron trades of around 10,000 t.
BigMint’s billet index rose by INR 450/t d-o-d to INR 42,700/t exw-Raipur. The conversion spread between sponge iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster was assessed at INR 14,050/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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