SteelMint Daily Trade Sheet - 08 Sep'22

India's largest merchant iron ore mining company, NMDC, has kept iron ore prices unchanged for September 2022 deliveries, SteelMint learnt from reliable sources.

SteelMint's daily steel billet index was assessed at INR 47,250/tonne (t) (=) exw-Raipur on 8 September, 2022. About 3,200 t of transactions were recorded on 8 September as against 4,300 t on 7 September. The index remained stable as buyers resisted higher offers due to moderate finished steel demand.

Trade-level prices of hot-rolled coils (HRCs) have continued to decline on a weekly basis post the price announcements made by mills last week. The weekly assessed prices of HRCs dropped by about INR 700/t ($9/t) while those of cold rolled coils (CRCs) by INR 600/t ($8/t). End-users' demand is low at present, mostly because of the festivities.

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.