PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63% 0.5%) index for Raipur, remained unchanged at INR 11,900/t ($126/t) DAP Raipur. Market participants are also closely tracking Odisha Mining Corporation’s (OMC) iron ore e-auction scheduled for 22 October 2026. OMC has reduced its base prices by around INR 150/t for fines and INR 50450/t for calibrated lump ore (CLO), with 1.43 million tonnes (mnt) of fines and 0.731 mnt of CLO on offer.
BigMint’s billet index rose by INR 100/tonne (t) d-o-d to INR 44,400/t exw-Raipur. The conversion spread between pellet-based direct reduced iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster narrowed to INR 16,400/t from INR 16,500/t previously.
Domestic sponge iron prices rose by INR 50-500/t across regions, led by the eastern region, mainly on positive market sentiment. Healthy enquiries in the region further strengthened the overall market. BigMint’s Raipur PDRI assessment settled at around INR 28,000/t, up INR 200/t day-on-day. BigMint recorded trade volumes of around 14,000 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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