PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63% 0.5%) index for Raipur, declined by INR 100/t ($1/t) to INR 11,800/t ($124/t) DAP Raipur. The Odisha Mining Corporation (OMC) received bids for around 1.41 mnt of iron ore fines against 1.44 mnt offered in its auction held on 22 October, representing a response of approximately 98%. Only a few low-grade fines lots remained unsold.
Domestic sponge iron prices declined by INR 100-350/t across regions, as limited buying interest and subdued market sentiment slowed overall trading activity. However, BigMints Raipur PDRI assessment settled at around INR 28,100/t, up INR 50/t, supported mainly by healthy bookings. BigMint recorded around 11,000 t of PDRI trades.
BigMint’s billet index declined by a further INR 200/t d-o-d to INR 43,850/t exw-Raipur. The conversion spread between pellet-based direct reduced iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster was assessed at INR 15,750/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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