BigMint's Daily Trade Sheet - 6 Feb

The BigMint billet index in India recorded a 3-year low on 6 February, 2024, dropping by INR 200/tonne (t) to INR 39,050/t exw-Raipur. The prevailing offers of billet were last seen in the last week of March 2021. About 3,200 t of transactions were recorded on 6 February as against 1,950 t on 5 February.

BigMint's bi-weekly domestic pellet (Fe 63%) index fell by INR 200/t to INR 9,650/t DAP ($115/t) Raipur on 6 February 2024 compared to the last assessment on 2 February 2024.

The index for domestic steel scrap (end-cutting) in Mandi Gobindgarh, according to BigMint, saw a decrease of INR 300/t on 6 February, 2024, settling at INR 36,900/t on a delivered-at-plant (DAP) basis.

Sponge iron prices in India fell by INR 50-400/t in all key locations. Prices fell on weak sentiments in the spot market and limited purchase enquiries. About 8,460 tonnes (t) of sponge iron transactions were recorded on 6 February compared to 14,600 t on 5 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.