BigMint’s billet index declined by INR 500/t d-o-d, reaching INR 41,300/t exw-Raipur, due to weakened market sentiments and subdued demand in both semi-finished and finished steel segments, leading to a sharp drop in spot prices.
India’s sponge iron market witnessed a price correction of INR 100-400/tonne (t) across key regions, as market participants stayed cautious due to uncertain demand in the semi-finished and finished steel segments. P-DRI prices were assessed in the range of INR 24,700-28,000/t, while CDRI offers stood at INR 27,300-32,300/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, decreased by INR 300/t to INR 37,700/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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