Domestic sponge iron prices rose by around INR 300-100/t across regions. In Raipur, PDRI prices settled at around INR 29,300/t, up by INR 600/t. BigMint recorded trade volumes of around 11,000 t.
BigMint’s billet index rose by INR 550/t d-o-d to INR 43,550/t exw-Raipur. The conversion spread between sponge iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster was assessed at INR 14,250/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, advanced by INR 400/tonne (t) d-o-d to INR 42,000/t DAP. In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,500-4,900/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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