India’s domestic sponge iron market remained under pressure, with prices declining by INR 50-200/t d-o-d across most regions. BigMint recorded sponge iron trade volumes of around 14,000 t.
BigMint’s daily billet index declined by a further INR 100/t d-o-d to INR 37,850/t exw-Raipur. The conversion spread between pellet-based direct reduced iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster remained unchanged at INR 14,700/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, remained unchanged d-o-d at 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.
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