BigMint’s bi-weekly assessment for Fe 62% concentrate stood firm at INR 4,750/t ($49/t) ex-works, while Fe 63% concentrate offers were heard at around INR 5,200/t ($52/t). Some sellers were also heard offering 62% material at around INR 5,000/t ex-works.
BigMint’s billet index rose by INR 300/t d-o-d to INR 43,000/t exw-Raipur, supported by improved billet demand from regional and neighbouring markets. The conversion spread between sponge iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster was assessed at INR 14,300/t.
The domestic sponge iron market witnessed an upward movement, with prices rising by around INR 50-300/t across key markets. BigMint recorded around 17,000 tonnes of trade.
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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