India’s sponge iron market witnessed broad-based corrections, with prices declining by INR 100-300/t day-on-day across major producing regions.
BigMint’s billet index declined by INR 300/t day-on-day to INR 40,500/t exw-Raipur, marking an approximate 3% drop from last week’s closing level. The conversion spread from sponge iron (PDRI) to billets for the standalone furnaces in the Raipur cluster was recorded at INR 13,400/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, decreased by INR 400/tonne (t) d-o-d to INR 37,400/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.
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