Author: Manish Vasdev

Indian induction furnaces continue to enjoy higher conversion spread (margins) on global factors, SteelMint learned from Industry participants. Current spreads between Sponge iron (P-DRI) and billet (Induction grade) stands at INR 13,000-13,500/MT (USD 200-208) which on an average hovers at INR 11,000-12,000/MT (USD 170-185). Similarly spreads between scrap and billet stands at INR 8,000-10,000/MT (USD…