PELLEX, BigMints bi-weekly domestic pellet (Fe 63% +/- 0.5%) for Raipur remained stable at INR 11,000/t DAP Raipur. Around 87,000 t of pellet deals were reported during the assessment period.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, climbed by INR 600/t d-o-d to INR 42,600/t DAP. In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,500-4,900/t.
Domestic sponge iron prices rose by around INR 100-300/t across regions, supported by firm finished steel prices and elevated raw material costs. In Raipur, PDRI prices settled at around INR 29,300/t. BigMint recorded trade volumes of around 7,000 t.
BigMint’s billet index remained unchanged d-o-d at INR 43,500/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.
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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