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 key Raipur market, prices declined by INR 400/t at INR 24,650/t ex-works. Trading activity recorded during the day was around 14,300 t, compared to nearly 12,300 t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, fell by INR 500/tonne (t) d-o-d to INR 37,800/t DAP.
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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