BigMint’s billet index decreased marginally by INR 100/tonne (t) d-o-d to INR 44,350/t exw-Raipur. The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 15,850/t.
Domestic sponge iron prices declined by around INR 100-1,000/t d-o-d across major regions amid weak buying interest and surplus availability. In Raipur, PDRI prices settled at around INR 28,500/t, down by INR 550/t. Raigarh saw the steepest decline of INR 1,000/t, with prices settling at around INR 28,000/t. BigMint recorded sponge iron trades of around 8,200 t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, declined by INR 300/tonne (t) d-o-d to INR 42,100/t DAP. In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 5,200-5,600/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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