PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63% +/- 0.5%) index for Raipur remained unchanged at INR 11,250/t DAP Raipur. Around 20,000 t of pellet deals for (Fe 63% +/- 0.5%) were reported during the assessment period.
BigMint’s billet index fell by INR 350/t d-o-d to INR 40,000/t exw-Raipur. The conversion spread from sponge iron (PDRI) to billet for standalone induction furnaces in the Raipur cluster was assessed at INR 15,900/t.
Domestic sponge iron market declined by around INR 100-700/t across regions, with the sharpest drop of Rs 700/t seen in Durgapur. The fall was mainly driven by weak finished steel demand and limited acceptance of prices at higher levels. BigMint’s Raipur PDRI settled at around Rs 28,100/t, down Rs 400/t. Around 6,000 tonnes of sponge iron trade was recorded.
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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