Domestic sponge iron prices rose by INR 50-300/t across regions today. In Raipur, prices settled at around INR 28,050/t, up INR 50/t day-on-day, supported by healthy buying interest in the region. BigMint recorded around 12,000 t of sponge iron trades.
BigMint’s billet index declined by INR 350/t d-o-d to INR 44,050/t exw-Raipur. The conversion spread between pellet-based direct reduced iron (PDRI) and billet for standalone induction furnaces in the Raipur cluster was assessed at INR 16,000/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained stable d-o-d at INR 40,400/t DAP. In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 6,500-6,800/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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