PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63% 0.5%) index for Raipur, remained unchanged at INR 11,900/t ($125/t) DAP Raipur. Pellet prices remained firm amid limited availability, as several pellet plants in Chhattisgarh have either undertaken maintenance shutdowns or are planning to suspend operations.
Domestic sponge iron prices declined by INR 50-500/tonne (t) d-o-d across regions. In Raipur, prices settled at around INR 28,100/t, down INR 200/t d-o-d, as limited finished steel demand and thin buyer participation weighed on market sentiment. BigMint recorded trades of around 10,000 t.
BigMint’s billet index declined by a further INR 300/tonne (t) d-o-d to INR 44,150/t exw-Raipur. The conversion spread between sponge iron (PDRI) and billet for standalone induction furnaces in the Raipur cluster was assessed at INR 16,050/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