BigMint’s billet index declined by INR 100/t by INR 38,200/t exw-Raipur. The conversion spread between pellet-based direct reduced iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster improved to INR 13,200/t.
Domestic sponge iron prices declined by around INR 50-300/t. Raipur sponge iron prices were assessed at around INR 25,000/t exw Raipur, down by INR 200/t. BigMint recorded around 29,000 t of sponge iron deals.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, declined by INR 400/tonne (t) d-o-d to INR 38,100/t DAP. In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 3,800-4,100/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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