BigMint’s billet index rose by INR 450/t d-o-d to INR 42,000/t exw-Raipur, supported by improved buying interest and moderate bookings. The conversion spread between pellet-based direct reduced iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster was assessed at INR 13,650/t.
The domestic sponge iron market witnessed mixed movement. In the PDRI segment, prices declined by INR 100-300/t across central and eastern regions, while the southern market remained largely stable. BigMints Raipur PDRI assessment settled at around INR 28,600/t, down INR 100/t from the previous assessment. BigMint captured around 13,000 t of trades.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, moved down by INR 100/t d-o-d to INR 41,600/t DAP. In Mandi, the spread between end-cutting scrap and billets stood in the range of INR 4,600-4,900/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.
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