PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63% 0.5%) index for Raipur, increased by INR 100/t ($1/t) to INR 11,900/t ($123/t) DAP Raipur. Pellet availability remained tight in the Raipur market, with limited spot supplies supporting prevailing price levels. NMDC dispatch constraints have restricted availability, affecting and replenish market supplies.
BigMint’s billet index declined by INR 550/t d-o-d to INR 45,100/t exw-Raipur. The conversion spread between sponge iron (PDRI) and billet for standalone induction furnaces in the Raipur cluster was assessed at INR 16,250/t.
Domestic sponge iron prices continued their downtrend this week, falling by INR 100-500/t d-o-d and INR 500-1,500/t w-o-w. The eastern region saw the sharpest correction, with prices dropping around INR 1,500/t w-o-w. Dull demand and limited buying enquiries at prevailing levels pressured sellers to reduce their offers. BigMint recorded trades of about 5,000 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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