SteelMint Daily Trade Sheet - 05 Sept'22

SteelMint's daily steel billet index was assessed at INR 47,000/tonne (t) (- INR 500/t) exw-Raipur on 5 September, 2022. About 3,050 t of transactions were recorded on 5 September as against 400 t on 3 September. The index fell on account of persistent weak finished steel sales.

SteelMint's domestic steel scrap (end-cutting) index fell by INR 700/tonne (t) to INR 44,400/t DAP Mandi Gobindgarh on 5 September. Amidst uncertain price movements, buyers opted to wait-and-watch, which led to subdued trading in the spot market throughout the day, SteelMint learnt from sources.

South Asia's imported scrap market remained muted due to limited demand. Prices for containerised shredded ferrous scrap in India fell slightly after a recently-concluded bulk deal. A Chennai-based mill was heard having booked 35,000 t of a mixed bulk cargo comprising shredded and HMS 1 (90:10) of EU-origin at $415/t CFR.

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.