BigMint’s billet index declined by INR 400/t d-o-d to INR 43,600/t exw-Raipur. The conversion spread from sponge iron (PDRI) to billet for standalone induction furnaces in Raipur was assessed at around INR 14,000/t.
Domestic sponge iron prices declined by around INR 50-300/tonne (t) d-o-d across key regions. Around 5,000 t of sponge iron trade was captured.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, eased by INR 100/t d-o-d to INR 43,200/t DAP. In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,500-4,900/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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