BigMint’s billet index remained stable at INR 37,200/tonne (t) exw-Raipur on 16 September 2024. In Raipur, rebar prices remained stable, while wire rod prices declined by INR 200/t d-o-d, with deals of 1,500 t recorded. Meanwhile, sponge iron prices in Raipur experienced a slight increase of INR 200/t.
Sponge iron prices displayed contrasting trends across India, with a drop of INR 50-300/tonne (t) d-o-d recorded in some regions due to weak demand and bearish market sentiments. However, in other areas, prices increased by INR 100-200/t d-o-d. Deals of about 8,950 t of sponge iron were recorded on 16 September, as compared to 8,500 t on 13 September.
BigMint’s domestic end-cutting scrap index tracking the Mandi Gobindgarh market fell INR 300/t to INR 35,500/t DAP as of 16 September 2024. W-o-w, scrap prices in the region dropped INR 1,200-1,400/t, with limited buying interest from mills.
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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