Author: Lipsita Nayak

BigMint’s billet index extended its downward trend, declining by INR 450/t d-o-d to INR 38,750/t exw-Raipur. The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 14,100/t. Domestic sponge iron prices declined by INR 100-600/t d-o-d across major amid weak demand conditions. In the…