SteelMint Daily Trade Sheet - 17 Mar'23

SteelMint's bi-weekly domestic pellets (Fe 63%) index, PELLEX, decreased marginally by around INR 50/t to INR 9,900/tonne (t) DAP Raipur on 17 March compared to the last assessment on 14 March, 2023. No deal was recorded as market participants showed least interest in buying pellets at current offers.

Prices of sponge iron increased by INR 100-200/t in some key locations, while prices in Bellary, Mandi and Hyderabad witnessed a slight drop of INR 50-150/t. Even though prices increased in some markets, very few deals were heard throughout the day. About 17,840 t of sponge iron transactions were recorded on 17 March in India as against 20,550 t on 16 March.

SteelMint's billet index increased by INR 300/t to INR 46,100/tonne (t) exw-Raipur on 17 March, 2023. Seller's kept offers on the higher side based on fluctuating market trends and moderate deals were concluded at these prices. Transactions of around 2,000 t were recorded on 17 March in Raipur as against 3,000 t on 16 March.

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.