According to BigMint’s latest assessment, Fe 57% iron ore fines prices declined by INR 50/t ($0.5/t) w-o-w to INR 2,650/t ($28/t) ex-mines. In contrast, Fe 62% fines prices increased by INR 150/t ($1.5/t) w-o-w to INR 5,400/t ($56/t) ex-mines.
BigMint’s billet index increased by INR 550/t d-o-d to INR 45,750/t exw-Raipur. The conversion spread between sponge iron (PDRI) and billet for standalone induction furnaces in the Raipur cluster was assessed at INR 16,200/t.
Domestic sponge iron prices increased by around INR 150-600/t across key regions, supported by higher input costs following Eastern Coalfields Limited (ECL) coal auction. In Raipur, P-DRI prices rose by INR 400/t to INR 29,550/t. BigMint recorded around 9,700 t of sponge iron trades.
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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