The Indian sponge iron market witnessed a mixed price trend. Prices in the central and eastern regions declined by INR 50-200/t d-o-d, while the southern market recorded an increase of INR 50-300/t. BigMint recorded sponge iron trade volume of around 12,600 t.
BigMint’s billet index remained unchanged at INR 37,550/t exw-Raipur. The conversion spread between pellet-based direct reduced iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster was assessed at INR 14,350/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, inched up by INR 100/t d-o-d to INR 37,300/tonne (t) DAP . In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,300-4,700/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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