The domestic sponge iron market witnessed an upward movement, with prices rising by around INR 50-500/t across major regions. Durgapur recorded a sharp increase of nearly INR 500/t, while BigMints Raipur PDRI prices settled at around INR 25,950/t exw Raipur, up by INR 250/t. BigMint assessed total trade activity at around 13,000 tonnes.
BigMint’s billet index increased by INR 200/t d-o-d to INR 38,900/t exw-Raipur. The conversion spread between sponge iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster was assessed at INR 12,950/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, improved by INR 200/tonne (t) d-o-d to INR 38,500/t DAP. In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 3,800-4,200/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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