Sponge iron prices across India extended their downward trajectory and falling by INR 50-300/t d-o-d. The daily sponge iron trade volume increased marginally to around 7,500 t.
BigMint’s billet index fell INR 200/tonne day-on-day (d-o-d) to INR 36,350/t exw-Raipur. The PDRI-to-billet conversion spread for standalone induction furnaces in Raipur was assessed at INR 13,450/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, decreased by INR 200/tonne (t) d-o-d to INR 35,300/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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