Sponge iron prices declined by INR 50-200/t across regions. In the key Raipur market, prices declined by INR 100/t to INR 25,900/t ex-works. Weak participation and subdued trading activity were observed in the market today.
BigMint’s billet index in Raipur declined by INR 300/t d-o-d to INR 42,150/t exw. The conversion spread from pellet-based sponge iron (PDRI) to billets for standalone induction furnaces in the Raipur cluster was recorded at around INR 16,100/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained unchanged d-o-d at INR 39,600/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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