The Indian billet market witnessed a downturn with BigMint’s index dropping INR 250/tonne (t) d-o-d to INR 37,050/t exw-Raipur. The conversion spread (PDRI to billet) for standalone induction furnaces in Raipur was assessed at INR 13,650/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, decreased by INR 300/tonne (t) d-o-d to INR 35,200/t DAP.
India’s sponge iron market continued to face pressure, prices declined by INR 100-300/t in most regions. Daily trade volume was assessed at around 9,000 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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