BigMint’s billet index was steady d-o-d at INR 40,650/t exw-Raipur on 2 February 2026, even as weak demand and cautious buyer sentiment limited market participation. The conversion spread from pellet-based sponge iron (PDRI) to billets for standalone induction furnaces in Raipur was assessed at around INR 15,150/t.
Sponge iron prices were largely stable with select regions witnessing a decline of INR 50-200/t. Trade volumes were recorded at around 10,800t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 100/tonne (t) d-o-d to INR 38,200/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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