BigMint’s bi-weekly domestic pellet (Fe63%) index for Raipur, remained stable at INR 9,650/t ($108/t) DAP. Raipur-based producers kept their offers for 63% (+/-0.5%) stable at INR 9,500-9,600/t ($107-108/t) exw.
India’s sponge iron market showed a mixed trend. In south India, sponge iron prices increased by INR 50-100/t and on the other hand, eastern part witnessed a price decline of INR 50-100/t.
BigMint’s billet index rose by INR 200/t d-o-d to INR 36,700/t ex-Raipur. The sponge iron (PDRI)-to-billet conversion spread for standalone induction furnaces in Raipur was assessed at INR 12,800/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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