PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63%) index for Raipur, increased by INR 250/t to INR 10,450/t ($109/t) DAP. Pellet offers also moved higher, with sellers quoting above INR 10,300/t ($107/t) ex-works.
BigMint’s billet index increased by INR 200/t d-o-d to INR 39,400/t exw-Raipur. The conversion spread between PDRI and billets for standalone induction furnaces in Raipur narrowed further to INR 12,400/t, indicatine the faster increase in sponge iron compared with billet prices.
Domestic sponge iron prices strengthened by around INR 100-800/t, supported by improved buying activity and healthy buyer participation. Raipur PDRI prices settled at INR 27,000/t exw-raipur, up by around INR 700/t. BigMint recorded around 25,000 tonnes of sponge iron trade.
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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