The Indian sponge iron market exhibited a mixed trend, Raipur, Bellary, and Jharsuguda recorded a decline of INR 50-100/t. Meanwhile, Ramgarh witnessed a price increase of INR 100/t, while other key regions remained largely stable, weighed down by weak sentiment. Total recorded trades stood at 7,050 t, underscoring muted activity and market hesitation.
BigMint’s daily billet index slipped by INR 200/t d-o-d to INR 36,800/t exw-Raipur. The conversion spread from PDRI to billets for standalone induction furnaces in the Raipur cluster was assessed at INR 13,600/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, decreased by INR 100/t to INR 34,800/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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