SteelMint Daily Trade Sheet - 18 Feb'23

SteelMint's weekly Odisha iron ore fines (Fe 62%) index stood at INR 5,400/t ex-mines on 18 February. The state-owned miner, Odisha Mining Corporation (OMC), conducted an iron ore auction on 16 February, 2023. Out of 574,000 t of fines put up for auction, 559,000 t or 97% of the total quantity received bids. The bid price for fines increased by up to INR 1,100/t against the last auction on 17 January.

Sponge iron prices in India continued to rise further on 18 February. They were up by INR 50-600/tonne (t) in key locations as suppliers quoted higher. However, prices in Bellary witnessed a slight drop of INR 50/t. About 9,170 tonnes (t) of sponge iron transactions were recorded on 18 February in India as against 27,500 t on 17 February.

SteelMint's billet index increased by INR 150/t to INR 46,900/tonne (t) exw-Raipur on 18 February, 2023. The index inched up on trades at high prices. Demand for semis and finished long steel remained subdued. Prices in north India showed an improvement which further supported the rise in billet prices. Transactions of around 1,000 t were recorded on 18 February in Raipur as against 3,400 t on 17 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.