SteelMint Daily Trade Sheet - 15 Mar'23

SteelMint's domestic steel scrap (end-cutting) index decreased by INR 400/tonne (t) to INR 43,300/t DAP Mandi Gobindgarh on 15 March, 2023. Domestic scrap is readily available in the market, as major mills are using imported scrap which is driving scrap prices down.

Prices of sponge iron decreased by INR 100-500/t in key markets across the country. Amid the continuous decline in spot demand for semi-finished steel products, sponge prices dropped significantly. About 12,500 t of sponge iron transactions were recorded on 15 March in India as against 11,770 t on 14 March.

SteelMint's India pellet (Fe 63%, 3% Al) export index FOB east coast was recorded at $123/t, up $5/t w-o-w despite sluggish pellet demand in the export market. As per market sources, one deal for 55,000 t of pellets (Fe 63%) is under negotiations and may get concluded at around $136-137/t CFR China.

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.