BigMint is a Market Intelligence and Price Reporting firm that caters to the data and analytics requirements of businesses in the commodities sector. It publishes real time prices and information, which is impartial, independent and reliable, sourced from all industry interfaces – sellers, buyers, agents and traders. This data is filtered and passed through very stringent, calculative assessments before final prices are derived, thereby giving our clients accurate pricing.

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BigMint's Daily Trade Sheet - 14 Mar'24

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Sponge Iron

BigMint Bureau

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15 Mar 2024, 13:17 IST

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.