According to BigMint’s latest bi-weekly assessment, Fe 62% iron ore concentrate prices were assessed at INR 4,500/t ($48/t) ex-works. Trading activity remained moderate during the period.
The domestic sponge iron market witnessed a weak trend, with prices declining by INR 50-200/t d-o-d across most regions. In the benchmark Raipur market, sponge iron prices fell by INR 150/t d-o-d to INR 23,900/t, with offers at around INR 24,100-24,200/t.
BigMint’s billet index declined by INR 100/t d-o-d to INR 38,850/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 14,950/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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