BigMint's daily trade sheet - 3 July'26

PELLEX, BigMint's bi-weekly domestic pellet (Fe 63%) index for Raipur, increased by INR 200/t ($2/t) to INR 9,300/t ($98/t) DAP. Raipur-based pellet sellers concluded bulk deals (for 325,000 t, as per BigMint's records) in mid-June amid pre-monsoon demand from steelmakers.

India's domestic sponge iron prices fell by INR 100-300/t day-on-day across most regions. Raigarh-based sellers concluded nearly 10,000 t of sponge iron deals, with major dispatches to Uttar Pradesh, Madhya Pradesh, and Raipur. BigMint recorded approximately 22,000 t of sponge iron trades.

BigMint's billet index declined by a further INR 100/t d-o-d to INR 38,550/t exw-Raipur. The conversion spread between pellet-based direct reduced iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster was assessed at INR 15,000/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.