Sponge iron prices in India fell by INR 100-300/t across most regions, as the festive season slowed market activity. Material is moving slowly, with purchases largely need-based. In Raipur, pellet-based DRI (PDRI) prices settled at around INR 28,000/t, down INR 150/t d-o-d. The southern region bucked the trend, with prices rising INR 100-300/t. BigMint recorded trades of around 5,000 t.
BigMint’s billet index declined by INR 400/t d-o-d to INR 44,100/t exw-Raipur. The conversion spread between sponge iron (PDRI) and billet for standalone induction furnaces in the Raipur cluster was assessed at INR 16,100/t.
According to BigMint’s latest assessment, Fe 57% iron ore fines prices declined by INR 50/t ($0.5/t) w-o-w to INR 2,600/t ($27/t) ex-mines. Demand for low-grade ore remained weak due to its limited economic viability and high silica content. Meanwhile, Fe 62% fines prices rose by INR 100/t ($1/t) to INR 5,500/t ($58/t) ex-mines.
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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