BigMint’s bi-weekly domestic pellet (Fe 63%) index for Raipur, inched down by INR 50/t to INR 10,500/tonne (t) ($116/t) DAP. Around 5,000 t of pellet (Fe 63%) were traded in the market at INR 10,300/t ($114/t) exw-Raipur.
India’s sponge iron market extended its downtrend with prices declining by INR 100-500/t day-on-day across major producing regions. Trade volumes reported around 9,000 tonnes.
BigMint’s billet index fell sharply by INR 500/t d-o-d to INR 40,000/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 13,500/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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