BigMint's Daily Trade Sheet - 13 Feb'24

On February 13, 2024, BigMint's domestic steel scrap index in Mandi Gobindgarh fell by INR 200/t, hitting INR 36,500/t on a delivered-at-plant (DAP) basis, a 31-month low. Mills in Mandi are acquiring domestic scrap at subdued levels, mirroring the sluggish activity seen in the semis and finished steel market.

BigMint's billet index dropped slightly by INR 50/t, reaching at INR 38,900/t exw-Raipur on 13 February 2024. Approximately 4,300 t of billet deals were concluded on 13 February, against 1,650 t on 12 February.

Sponge iron prices in almost all key domestic markets dropped further in the range of INR 50-500/tonne (t) on 13 February, 2024. About 10,250 tonnes (t) of sponge iron transactions were recorded in the country on 13 February compared to 11,520 t on 12 February.

The below sheet summarises confirmed trades/offers of iron and steel products collected by SteelMint to help our users keep track of day-to-day trade dynamics.