BigMint’s bi-weekly assessment for Fe 62% concentrate remained unchanged at INR 4,900/t ($51/t) ex-works, while offers for Fe 63% concentrate were heard at around INR 5,350/t ($56/t). Some sellers were also heard offering Fe 62% material at around INR 5,000-5,100/t ($52-53/t) ex-works, indicating that replacement costs are gradually moving above prevailing assessed levels.
BigMint’s Fe 69% mill scale assessment for Kandla increased by INR 50/t w-o-w to INR 7,500/t DAP Kandla, while Raipur prices remained at INR 7,400/t ex-works. Jalna prices edged down by INR 50/t to INR 6,250/t ex-works.
BigMint’s billet index fell by INR 500/t d-o-d to INR 43,500/t exw-Raipur. The conversion spread from sponge iron (PDRI) to billet for standalone induction furnaces in the Raipur cluster was assessed at INR 15,750/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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