PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63% +/- 0.5%) index for Raipur rose to INR 11,250/t DAP Raipur. The increase was driven by firmer market sentiment, with sellers raising offers by around INR 200-300/t to INR 11,000-11,100/t.
BigMint’s billet index increased by INR 800/t d-o-d to INR 44,400/t exw-Raipur, reaching its highest level in one year. The conversion spread between sponge iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster was assessed at INR 14,950/t.
The domestic sponge iron market witnessed upward momentum, with prices rising by around Rs 50-500/t across regions, mainly on the back of improved sentiment in finished steel. However, as per BigMint, Raipur DRI prices settled at around Rs 29,450/t exw-Raipur, down Rs 150/t d-o-d, on account of selling pressure in the Raipur region. BigMint recorded around 15,000 t of trade.
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.
Leave a Reply