PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63% 0.5%) index for Raipur, remained unchanged at INR 11,900/t ($125/t) DAP Raipur. Trading activity remained largely muted, with procurement restricted as participants preferred to wait for clearer price signals before committing to fresh purchases.
Sponge iron prices fell by INR 100-400/t across regions today. In Raipur, prices settled at around INR 27,800/t, down INR 200/t day-on-day. Overall trade volume was around 9,000 t.
BigMint’s billet index declined by a further INR 300/t d-o-d, settling at INR 43,800/t exw-Raipur. The conversion spread between sponge iron (PDRI) and billet for standalone induction furnaces in the Raipur cluster was assessed at INR 16,000/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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