India’s sponge iron market witnessed an upward price movement, with spot offers increasing by INR 100-300/tonne (t) day-on-day across most regions. Pan-India sponge iron bookings stands at approximately 13,000 t.
BigMint’s billet index rosefurther by INR 150/tonne (t) d-o-d, settling at INR 36,700/t exw-Raipur, the conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster narrowed to INR 13,200/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 200/tonne (t) d-o-d to INR 35,400/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.
Leave a Reply