BigMint’s billet index surged by INR 1,300/t d-o-d to a two-year high of INR 45,200/t exw-Raipur. The conversion spread between pellet-based direct reduced iron (PDRI) and billet for standalone induction furnaces in the Raipur cluster was assessed at INR 15,950/t.
Domestic sponge iron prices surged by around INR 1,100-1,300/t d-o-d. BigMint’s Raipur PDRI prices settled at around INR 29,250/t, up INR 1,250/t d-o-d. BigMint recorded overall trade volumes of around 13,000 t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 1,000/tonne (t) d-o-d to INR 42,600/t DAP. In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 5,400-5,600/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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