Author: Bhupesh Agrawal

BigMint’s billet index edged lower by INR 50/t day-on-day to INR 41,750/t exw, as subdued downstream demand continued to cap market momentum. The conversion spread from pellet-based sponge iron (PDRI) to billets for standalone induction furnaces in Raipur was assessed at around INR 14,200/t. Sponge iron prices moved up by INR 100-600/t across regions. Trade…