SteelMint Daily Trade Sheet - 11 Feb'23

SteelMint's weekly Odisha iron ore fines (Fe 62%) index remained stable at INR 5,400/t ex-mines on 11 February, 2023. Apart from purchases in auctions conducted by ESL, AM/NS India and OMC (unsold ore), hardly other deals were reported this week.

Sponge iron prices fell by INR 100-350/t in key locations of the country. Following the continuous decline in spot demand for semi-finished steel products, prices dropped significantly. Low demand for sponge iron was due to the significant drop in billet prices. About 6,450 t of sponge iron transactions were recorded on 11 February in India as against 12,100 t on 10 February.

SteelMint's billet index declined by INR 100/t d-o-d to INR 45,050/tonne (t) exw-Raipur on 11 February, 2023. Billet prices decreased amid slow booking. Demand in the finished long steel segment was high and hence substantial bookings of finished steel were seen. Transactions of around 700 t were recorded on 11 February in Raipur as against 2,400 t on 10 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.