SteelMint Daily Trade Sheet - 18 Apr'23

SteelMint's bi-weekly domestic pellet (Fe 63%) index, PELLEX, remained stable at INR 9,300/t DAP Raipur on 18 April 2023 compared to the previous assessment on 14 April. No deal was concluded as market participants were waiting for a clearer market direction post-OMC's iron ore auction conducted today. Also, most of the sponge players had concluded active pellet bookings last week owing to which deals have remained slow this week.

Indian sponge iron prices declined in the range of INR 100-300/tonne (t) in some key locations on 18 April, 2023. Steel prices have been fluctuating widely, making it difficult for buyers to get clarity on the price front. Thus, in short, the market showed a mixed trend. A total of 13,960 t of transactions were recorded on 18 April as against 21,710 t on 17 April.

SteelMint's India HRC (SAE1006) export index remained stable at $695/t FOB east coast this week. Subdued demand in the Middle East, declining bids in Vietnam and limited deals in EU continue to weigh down sentiments in the Indian HRC export market.

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.