Indian sponge iron prices fell by INR 50-350/tonne (t) d-o-d in major markets across the country. Prices declined as market participants remained cautious amid weakening steel prices and reduced inquiries. PDRI prices were assessed at INR 23,300-27,000/t, while CDRI prices were at INR 25,700-30,800/t.
BigMint’s billet index declined by INR 50/tonne (t) day-on-day, settling at INR 40,300/t exw-Raipur, amid limited buying in both semi-finished and finished steel segment.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, declined slightly by INR 100/t d-o-d to INR 36,700/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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