BigMint’s billet index recorded a modest correction of INR 250/t d-o-d, settling at INR 38,700/t exw-Raipur. The conversion spread from sponge iron (PDRI) to billets for standalone induction furnaces in Raipur was assessed at INR 14,400/t.
Domestic sponge iron prices declined by INR 100-300/t d-o-d. Overall sponge iron trade volume stood at around 9,350 t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, decreased by INR 500/t d-o-d to INR 37,800/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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