SteelMint Daily Trade Sheet - 12 Jan'23

SteelMint's domestic steel scrap (end-cutting) index edged up by INR 300/tonne (t) to INR 43,800/t DAP Mandi Gobindgarh on 12 January, 2023. The index rose as semi-finished steel demand and prices improved in the trading session.

SteelMint's weekly price index of India's low-grade iron ore fines (Fe 57%) exports stood at $70/tonne (t) FOB east coast on 12 January, 2022, up $4/t w-o-w. As per sources, restocking by steel mills in China before the Lunar New Year holidays led to the rise in prices this week.

SteelMint's billet index rose by INR 250/tonne (t) to INR 47,550/t exw-Raipur on 12 January, 2023. Billet prices increased slightly on higher offers. Trade volumes in the semi-finished and finished long steel segments, though, remained low. Transactions of around 2,320 t were recorded on 12 January in Raipur as against 5,895 t reported on 11 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.