Author: Rounak Gairarey

Conversion spread (margins) of Indian induction or EA furnaces have increased by INR 2,000-2,500/t($ 14-21) since May’20. According to the industry participants, the benchmark conversion required is about INR 12,000/t from sponge P-DRI to Billet which is currently around INR 13,000/t in Raipur & INR 12,500/t in Durgapur. Factors behind rise in conversion spread: —…