SteelMint Daily Trade Sheet - 16 Feb'23

Daily sponge iron prices increased by INR 400-700/t in major locations of the country due to improved buying interest, which resulted in improved trading activity throughout the day and led to a slight increase in demand for semi-finished steel products. About 13,760 t of sponge iron transactions were recorded on 16 February in India as against 17,500 t on 15 February.

SteelMint's weekly price index of India's low-grade iron ore fines (Fe 57%) exports stood at $77/tonne (t) FOB east coast on 16 February, 2023, up $1/t w-o-w. Export prices have inched up on rising futures and spot prices w-o-w along with improved steel demand and positive import margins on low-grade iron ore in the Chinese market.

SteelMint's billet index increases by INR 550/t to INR 46,550/tonne (t) exw-Raipur on 16 February, 2023. The index improved on active trades at higher price levels. Demand for semis improved marginally. Prices in the north region remained strong and shown upward price movement. Transactions of around 2,800 t were recorded on 16 February in Raipur as against 2,200 t reported on 15 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.