SteelMint Daily Trade Sheet - 15 Feb'23

Iron ore concentrate prices in Jabalpur, central India, saw a downtrend w-o-w. SteelMint's index for Fe 63% concentrate prices currently stands at around INR 5,200/tonne (t) exw, down INR up to 150/t, w-o-w. The drop in pellet prices and an inactive buying at higher offers has pulled down offers for iron ore concentrate.

Sponge iron prices in India increased today in line with improvements in the semi-finished steel market. Prices in key cities rose by INR 100-300/t due to increased demand and higher offers from suppliers. About 17,500 t of sponge iron transactions were recorded on 15 February in India as against 25,020 t on 14 February.

SteelMint's billet index increased by INR 200/t to INR 46,000/tonne (t) exw-Raipur on 15 February, 2023. The index inched up on the back of strong buying at higher levels. Demand for semis and finished steel has also improved. Prices in the north region moved up further, resulting in acceptance of higher offers. Transactions of around 2,200 t were recorded on 15 February in Raipur as against 3,470 t reported on 14 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.