SteelMint Daily Trade Sheet - 11 Jan'23

Iron ore concentrate prices in Jabalpur, central India, remained range-bound this week. SteelMint's assessment for Fe63% concentrate prices currently stands at around INR 4,200-4,300/tonne (t) exw, range-bound as against the last assessment on 7 January.

India's pellets export trade has improved over the previous week on active trades. SteelMint's India pellets (Fe 63%, 3% Al) export index, FOB east coast, was recorded at $117/t, up by $8/t w-o-w. Participants on the Indian side expressed optimism about a recovery in Chinese demand for Indian pellets amidst restocking needs ahead of the holidays.

Sponge iron prices in India rose in the range of INR 100-750/t in key locations owing to active demand and higher offers quoted by the suppliers. Producers kept prices on the higher side as several deals took place today following the rise in billets prices by INR 400-550/t d-o-d. About 38,900 t of sponge iron transactions were recorded on 11 January in India as against 22,300 t on 10 January.

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.