PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63%) index for Raipur increased by around INR 200/t w-o-w to INR 11,000/t DAP Raipur. The rise was supported by a broad-based increase in pellet prices across major domestic markets, along with firm sponge iron, pig iron and billet prices during the assessment period. Around 25,000 t pellet deals were reported to BigMint during the assessment period.
The domestic sponge iron market witnessed a correction, with prices declining by around INR 100-250/t across major regions, mainly due to limited enquiries and buyer hesitation at prevailing higher price levels. In Raipur, BigMint PDRI prices settled at around INR 29,350/t, down INR 250/t, exw-Raipur. BigMint recorded trade volumes of around 10,000 t.
BigMint’s billet index declined by INR 450/t d-o-d to INR 42,100/t exw-Raipur. The conversion spread between sponge iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster widened to INR 12,750/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.
Leave a Reply