Indian sponge iron prices continued their downward trajectory, with spot prices falling by INR 100-200/t across major regions, particularly in the central-eastern and Bellary clusters. Approximately 9,700 t of sponge iron was booked during the day.
BigMint’s billet index registered a marginal decline of INR 100/tonne (t), settling at INR 37,550/t exw-Raipur. The conversion spread from PDRI to billets for standalone induction furnace (IF) operators in Raipur was assessed at INR 13,050/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, further declined by INR 200/tonne (t) d-o-d to 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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