According to BigMint’s latest bi-weekly assessment, Fe 62% iron ore concentrate prices were assessed at INR 5,000/t ($52/t) ex-works, down INR 150/t ($1.5/t). Meanwhile, Fe 63% iron ore concentrate was heard at around INR 5,300-5,400/t ($56-57/t) ex-works, although transactions remained scarce.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 300/t d-o-d to INR 38,100/tonne (t) DAP.
BigMint’s billet index increased by INR 250/t day-on-day to INR 38,900/t exw-Raipur. The conversion spread from PDRI to billets for standalone induction furnaces in Raipur was assessed at INR 14,700/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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