BigMint’s bi-weekly assessment for Fe 62% concentrate edged up by INR 50/t ($0.5/t) to INR 4,850/t ($51/t) ex-works, while Fe 63% concentrate offers were heard at around INR 5,200/t ($54/t). Some sellers were also heard offering Fe 62% material at around INR 5,000/t ex-works. More deals were heard for Fe 63% material compared with Fe 62%.
Domestic sponge iron prices rose by INR 50-300/t across regions, driven mainly by positive sentiment in the finished steel market, which pushed overall sentiment upward. Raipur PDRI prices settled at around INR 29,450/t, down by 50/t. BigMint recorded around 9,000t of sponge iron trade.
BigMint’s billet index increased marginally by INR 50/t d-o-d to INR 44,450/t exw-Raipur. The conversion spread between sponge iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster was assessed at INR 15,050/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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