The sponge iron market remained under pressure, with prices declining by INR 50-200/t across several markets. BigMint recorded 8,000 t of sponge iron trades during the day.
BigMint’s billet index declined by INR 300/t d-o-d to INR 38,000/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 13,200/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained stable d-o-d at INR 37,900/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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