Indian sponge iron prices moved higherby INR 300-700/t d-o-d across key markets following improved buying interest. The sharpest increase was recorded in Rourkela, where prices rose by around INR 700/t amid stronger regional demand and improved market enquiries. According to BigMint, around 23,000 t of sponge iron were traded
BigMint’s billet index extended its upward momentum, rising by INR 450/t d-o-d to INR 39,000/t exw-Raipur. The conversion spread between pellet-based direct reduced iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster narrowed further to INR 13,300/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, improved by INR 600/t d-o-d to INR 38,500/tonne (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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