BigMint's Daily Trade Sheet - 14 Mar'24

Sponge iron prices in all key domestic markets dropped in the range of INR 50-250/t. PDRI market prices closed at a range of INR 25,050-27,100/t and CDRI prices, at INR 26,400-30,900/t. About 14,675 t of sponge iron transactions were recorded in the country on 14 March compared to 15,180 t on 13 March.

BigMint's weekly Indian low-grade iron ore fines (Fe 57%) export index fell by $12/t w-o-w to $62/t FOB east coast on 14 March 2024. A deal of iron ore fines (Fe 57%) was heard concluded at a 19-20% discount to the index earlier this week but could not be confirmed at the time of publication.

On 14 March, 2024, BigMint's billet index experienced a notable decline, dropping further by INR 350/tonne (t) to INR 39,600/t exw-Raipur. Total transactions reached 3,860 t on 14 March, a significant surge compared to 13 March 1,400 t.

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.