BigMint’s billet index declined marginally by INR 50/t d-o-d to INR 38,100/t exw-Raipur. The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in Raipur was assessed at INR 14,200/t.
The Indian sponge iron market witnessed a sluggish trading session today, though prices in key regions rose marginally by INR 100-200/t. BigMint recorded sponge iron trade volume of around 10,100 t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained stable at INR 37,500/tonne (t) DAP. In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,300-4,600/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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