BigMint’s billet index declined by INR 550/t d-o-d to INR 44,450/t exw-Raipur. The conversion spread between sponge iron (PDRI) and billet for standalone induction furnaces in the Raipur cluster was assessed at INR 16,150/t.
Indian sponge iron prices softened by around INR 100-700/t d-o-d across regions. . In Raipur, pellet-based direct reduced iron (P-DRI) prices settled at around INR 28,300/t, down INR 450/t d-o-d. Trade volume was recorded at around 6,000 t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, declined by INR 600/tonne (t) d-o-d to INR 41,500/t DAP. In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 5,600-6,000/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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