Sponge iron prices largely remained stable across regions, with slight decrease of INR 50-150/t observed in the central and eastern markets. In the key Raipur market, prices declined by INR 50/t to INR 25,950/t ex-works. Trading activity witnessed a sharp slowdown today, with total traded volumes declining to around 6,700 t, compared to nearly 18,700 t.
BigMint’s billet index declined further by INR 200/t d-o-d to INR 39,050/t exw-Raipur. The conversion spread from pellet-based sponge iron (PDRI) to billets for standalone induction furnaces in Raipur was assessed at around INR 14,100/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained unchanged d-o-d at INR 37,600/tonne (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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