PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63%) index for Raipur, held firm at INR 10,100/t ($106/t) DAP. Deals for nearly 41,000 t pellets Fe 62.5/63% were concluded largely at INR 9,700-10,000/t DAP from Odisha-based sellers.
Indian sponge iron prices corrected by INR 50-100/t amid limited demand and subdued spot inquiries across most regions. BigMint recorded only 8,500 t of sponge iron trades.
BigMint’s billet index declined by INR 200/t d-o-d to INR 38,950/t exw-Raipur. The conversion spread between pellet-based direct reduced iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster stood at INR 13,450/t, narrowing slightly from the previous session.
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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