BigMint’s bi-weekly assessment for Fe 62% iron ore concentrate increased by INR 50/t ($0.5/t) to INR 4,750/t ($50/t) ex-works. Meanwhile, Fe 63% concentrate offers were heard at around INR 5,000/t ($53/t) ex-works, reflecting increasingly bullish market sentiment and tightening availability in the region.
BigMint’s Fe 69% mill scale assessment at Kandla increased by INR 150/t w-o-w to INR 7,250/t DAP Kandla, while Jalna prices declined by INR 50/t to INR 6,350/t ex-works. In contrast, Raipur prices remained unchanged at INR 7,200/t ex-works. Deals for around 2,200 t were recorded during the publishing window at INR 7,250-7,300/t.
BigMint’s billet index declined by INR 150/t d-o-d to INR 41,950/t exw-Raipur. Market activity remained slow as buyers delayed purchases amid expectations of further price adjustments and weak downstream orders. The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in Raipur was assessed at INR 12,900/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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