PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63% +/- 0.5%) index for Raipur registered an uptick of INR 300/tonne (t) ($3/t) to INR 11,300/t ($118/t) DAP Raipur. Raipur pellet prices rebounded following improved buying interest after the recent correction, with market participants reporting bookings of around 70,000-80,000 t.
Active pellet manufacturers in Chhattisgarh revised their offers for Fe 62.5/63% (+/-0.5%) grade pellets on an incremental tone by around INR 300/t ($3/t) to INR 11,100-11,200/t ($116-117/t) exw Raipur. Around five major pellet deals for Fe 63% (+/-0.5%) grade were reported during the assessment period, involving approximately 73,000 t of pellets.
BigMint’s billet index rose marginally by INR 50/t d-o-d to INR 45,250/t exw-Raipur. The conversion spread between sponge iron (PDRI) and billet for standalone induction furnaces in the Raipur cluster was assessed at INR 15,950/t.
Domestic sponge iron prices rose by around INR 50-550/t d-o-d across regions, supported by positive market sentiment, as the previous day’s buying boosted seller confidence. BigMint’s Raipur PDRI price settled at around INR 29,300/t, up INR 50/t d-o-d. BigMint recorded trade volumes of around 7,000 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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