BigMint’s billet index surged by INR 1,550/t day-on-day to INR 42,350/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 15,450/t.
India’s sponge iron prices recorded a strong increase of INR 700-1,400/t across regions. Trade volumes recorded around 11,700 t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 900/tonne (t) d-o-d to INR 38,900/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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