BigMint’s billet index declined marginally by INR 200/t d-o-d to INR 38,300/t exw-Raipur. The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in Raipur was assessed at INR 14,900/t.
India’s domestic sponge iron prices fell by INR 50-300/t d-o-d across most regions. BigMint recorded approximately 14,000 t of sponge iron trades.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, eased by INR 400/tonne (t) d-o-d to INR 37,500/t DAP. In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,500-4,900/t.
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.
Leave a Reply