India’s sponge iron prices increased by INR 100-200/t d-o-d across major regions on 18 June, supported by improved market sentiment and moderate buying activity. In the key Raipur market, prices rose by INR 150/t to INR 24,200/t ex-works. Trade volumes recorded around 14,050 t.
BigMint’s billet index extended its recovery, increasing by INR 150/t day-on-day to INR 39,000/t exw-Raipur. The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 14,800/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 100/t d-o-d to INR 38,000/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.
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