Indian sponge iron prices declined by INR 50-300/tonne (t) across major locations.PDRI prices closed at INR 24,100-27,000/t, while CDRI settled at INR 26,650-31,000/t.Transactions of 10,500 t were recorded in the country on 6 March, compared to 9,600 t on 5 March. BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, slid down by INR […]
Morning Brief: The HRC-rebar reverse spread entered its sixth month in February, 2025, marking a trend that started in September, 2024. However, in February this year, the negative trough eased slightly m-o-m at -INR 4,400/tonne ($51/t) compared to January’s -INR 5,300/t ($61/t). March onwards, prices have shown an upswing and the sentiments were already being felt […]
BigMint’s bi-weekly iron ore concentrate index stood at INR 4,700/tonne (t) ($54/t) exw-Jabalpur, up by INR 100/t ($1/t), w-o-w. BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 300/tonne (t) d-o-d to INR 36,800/t DAP on 5 March 2025. India’s sponge iron prices increased by INR 100-500/tonne (t) d-o-d across key […]
India’s induction furnace (IF) route rebar prices rose in February 2025. Rebar (Fe 500) prices showed an increase in the range of INR 100-2,000/tonne (t) m-o-m, as per BigMint. In the first half of the month, buyers were hesitant due to a lack of confidence and market clarity. However, in the second half, demand increased […]
India’s induction furnace (IF) steel prices fluctuated today, in a wide range of INR 50-400/tonne (t). Sponge iron offers largely rose, by INR 50-250/t d-o-d. The highest increase of INR 250/t was seen in the Raipur and Raigarh markets. Billet prices surged by INR 100-400/t d-o-d in many regions except in Ramgarh and Durgapur where […]
BigMint’s billet index increased by INR 350/tonne (t) today to INR 40,150/t exw-Raipur on 4 March 2025. The index saw a rise today, driven by improved buying activity in the semi-finished and finished steel segments. Stronger demand provided support to spot offerings, encouraging participants to secure bookings actively. Market participants were seen stocking up in […]
Indian silico manganese export offers remained stable w-o-w amid limited market inquiries. Additionally, the market is experiencing a phase where buyers are demanding lower prices during negotiations, putting downward pressure on offers. Despite a balanced supply-demand equation, this results in minimal fluctuation in export prices. BigMint’s assessment on 4 March 2025 of export prices of […]
Raipur pellet prices started the week on a stable note, supported by active transactions and rising sponge iron and semi-finished steel prices over the past week. Market participants reported moderate buying interest as several buyers had already secured materials in previous weeks and were awaiting deliveries. BigMint’s bi-weekly domestic pellet (Fe63%) index remained stable at […]
BigMint’s India hot-rolled coil (HRC) (SAE 1006) export index (for the Middle East and Vietnam) dropped by $10/t w-o-w to $495/t FOB east coast India against $505/t last week. Some recent export deals from India to the Middle East (ME) were seen as demand in this geography has improved slightly. European demand continues to face […]
South Asia’s ship-breaking markets faced challenges in week 8 of CY’25. Alang’s market weakened due to concerns over the possibility of increased Chinese steel shipments and declining prices. Pakistan’s Gadani cluster showed limited activity, while Bangladesh’s Chattogram struggled with political and economic uncertainty, despite busy anchorages and declining bids. Alang’s market faces uncertainties amid US […]