BigMint's Daily Trade Sheet - 1 June'24

BigMint's weekly Odisha iron ore fines (Fe62%) index increased by INR 100/t ($1/t) w-o-w to INR 5,500/t ($66/t) ex-mines on 1 June, 2024. Around 20,000 t of Fe62% fines deals were recorded in this publishing window.

Mill scale prices in Kandla remained stable at INR 7,500/t DAP on 1 June'24 against 29 May. Around 11,150 t of deals were concluded at around INR 7,300-7,600/t DAP. As per sources, an export tender is scheduled in mid-June dates.

A major ERW pipe manufacturer, specialising in HRC-based products, has implemented an upward price revision for its base-grade pipe (25-125 NB, 2.2-6 mm) for early-June 2024 sales, sources informed BigMint. Following this adjustment, prices now stand at INR 63,500/t ($761/t) exw-Raipur, excluding 18% GST.

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