India’s sponge iron market witnessed a mixed trend, with buying activity improving significantly d-o-d. Spot offers in central India increased by INR 300-350/t, supported by stronger bookings and improved buyer participation. However, markets in Odisha and southern India remained subdued. Trade recorded around 16,900 t compared with 7,300 t.
BigMint’s billet index rose by INR 200/t d-o-d to settle at INR 40,050/t exw-Raipur. The conversion spread from PDRI to billets for standalone induction furnaces in Raipur was assessed at INR 14,550/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 200/t d-o-d to INR 38,300/tonne (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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