SteelMint Daily Trade Sheet - 13 Apr'23

Sponge iron prices in India increased by INR 50-300/t in key locations amid active spot trading seen. Buying interest remained buoyant throughout the day. Spot trades rose a significant 31% compared to yesterday. A total of 26,900 tonnes (t) of transactions were recorded on 13 April as against 20,470 t on 12 April.

SteelMint's billet index rose by INR 200/tonne (t) to INR 46,400/t exw-Raipur on 13 April, 2023. The index rose as a result of rising sponge iron and billet prices across India. The market was influenced by an upward trend in prices in north India. Around 3,300 t of billets were traded in Raipur on 13 April as against 4,450 t on 12 April.

SteelMint's weekly India low-grade iron ore fines (Fe 57%) export index stood at $67/tonne (t) FOB east coast on 13 April, 2023, stable w-o-w. The recent increase in iron ore fines prices made market players cautious because they lacked confidence in the sustainability of the gains.

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.