SteelMint Daily Trade Sheet - 11 Apr'23

SteelMint's bi-weekly domestic pellet (Fe 63%) index, PELLEX, decreased by INR 250/tonne (t) to INR 9,350/t DAP Raipur on 11 April 2023 compared to the previous assessment on 7 April. Trade was muted as prices of billets, rebars, and wire rods dropped this week. Only one deal of 8,000 t (Fe 63%) was recorded at INR 9,350/t DAP.

The downtrend in sponge iron prices continued. Prices fell by INR 50-350/tonne (t) in key locations across the country despite rise in spot trading. Prices of the material have been fluctuating wildly of late, making it challenging for buyers to do any forecasting. A total of 13,150 t of transactions were recorded on 11 April as against 11,100 t on 10 April.

SteelMint's daily steel billet index was assessed at INR 45,950/tonne (t) exw-Raipur on 11 April, 2023, down INR 50/t d-o-d. The index fell slightly due to lower bids following which spot trade of billets also moved down to 3,700 t on 11 April as against 5,100 t on 10 April.

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.