PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63%) index for Raipur, dropped by INR 100/t to INR 9,800/t ($101/t) DAP. BigMint recorded a few deals totalling around 25,000 t, concluded at INR 9,500-9,950/t ($98-103/t) DAP-Raipur by local and Odisha-based producers.
India’s sponge iron prices declined by INR 150-450/t d-o-d across major regions on weak demand conditions and continued oversupply pressure. Total trade volumes recorded at around 7,600 t, compared to nearly 9,750 t.
BigMint’s billet index declined sharply by INR 350/t d-o-d to INR 39,500/t exw-Raipur. The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in Raipur was assessed at INR 14,300/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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