BigMint’s bi-weekly domestic pellet (Fe63%) index, dropped by INR 100/t ($1/t) to INR 10,150/tonne (t) ($119/t) DAP Raipur. Deals of pellets (Fe63%) were concluded by Raipur-based sellers at INR 10,250/t ($120/t) DAP and purchased from Odisha at INR 9,900-10,000/t ($115-116/t) DAP Raipur.
BigMint’s billet index declined for the third consecutive session, falling by INR 150/tonne (t) d-o-d to settle at INR 41,000/t exw-Raipur, as market demand remained subdued.
Indian sponge iron prices declined by INR 50-200/tonne (t) across major locations, buyers adopted a wait-and-watch approach due to an unstable market, which led to subdued procurement and, consequently, a drop in sponge iron prices. PDRI prices closed at INR 24,400-27,500/t, while CDRI settled at INR 27,100-31,900/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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