SteelMint Daily Trade Sheet - 11 May'23

Sponge iron prices in India witnessed mixed trends amid volatile steel prices today falling in the range of INR 50-500/t in some key locations. Low demand for sponge iron was seen and spot trade volumes decreased by 22% d-o-d. A total of 10,570 t of transactions were recorded on 11 May as against 13,500 t on 10 May.

SteelMint's billet index fell by INR 300/t on May 11, 2023, to INR 44,450/tonne (t) exw-Raipur. The index slipped on slow demand for semi-finished and finished steel which also resulted in offers declining. Transactions of around 2,500 t were recorded on 11 May in Raipur as against 3,850 t on 10 May.

SteelMint's weekly India low-grade iron ore fines (Fe 57%) export index remained stable w-o-w at $60/tonne (t) FOB east coast on 11 May, 2023.

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.