India’s sponge iron prices remained largely stable, with a slight upward bias of INR 50-200/t d-o-d. The recorded trade volume stood at around 3,400 tonnes.
BigMint’s billet index in Raipur increased marginally by INR 200/t d-o-d to INR 43,100/t exw. The conversion spread from pellet-based sponge iron (PDRI) to billets for standalone induction furnaces in Raipur was assessed at around INR 16,050/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 200/tonne (t) d-o-d to INR 41,000/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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