Tag: India: DRI and Billet Index price trend

The conversion spread from pellet-based sponge iron (PDRI) to steel billets in the key secondary steelmaking hub of Raipur in central India widened y-o-y in January-June 2025 (H1CY25), possibly indicating that billet manufacturers continue to witness decent margins despite finished steel and raw materials trading at over four-year lows.