The Indian sponge iron market witnessed a subdued trading session, with spot prices declining by INR 50-200/t across key producing regions.
BigMints billet index posted a marginal day-on-day (d-o-d) decline of INR 100/tonne, settling at INR 37,400/t exw-Raipur. The conversion spread from PDRI to billets for standalone induction furnace (IF) operators in Raipur was assessed at INR 12,800/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained from the two consecutive days and assessed at INR 35,600/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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