PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63%) index for Raipur, remained unchanged at INR 10,200/t ($107/t) DAP. One deal of 25,000 t of Fe 62.5/63% grade pellets were reported to BigMint from a Raipur-based seller during the assessment period.
BigMint’s billet index increased by INR 350/t d-o-d to INR 38,550/t exw-Raipur. The conversion spread between pellet-based direct reduced iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster narrowed further to INR 13,050/t.
Indian sponge iron prices increased by around INR 100-500/t d-o-d across major regions. In Raipur, prices rose sharply, with BigMint assessing Raipur PDRI prices at INR 25,500/t, up by around INR 500/t. Overall, sponge iron trading remained healthy, with around 22,000 t of material traded.
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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