SteelMint Daily Trade Sheet - 18 Mar'23

SteelMint's weekly Odisha iron ore fines (Fe 62%) index remained stable at INR 5,700/t ex-mines on 18 March. Apart from the auction conducted by state-owned miner, Orissa Mining Corporation (OMC), not much trades were heard. However, drop in sponge iron prices kept iron ore trades subdued.

Sponge iron prices fell by INR 50-300/t in key locations of the country. Following the continuous decline in spot demand for semi-finished steel products, prices dropped significantly. Low demand for sponge iron was due to the significant drop in billets prices. About 5,210 t of sponge iron transactions were recorded on 18 March in India as against 17,840 t on 17 March.

SteelMint's billet index decreased by INR 200/t to INR 45,900/tonne (t) exw-Raipur on 18 March, 2023. The index dropped amid falling bids and limited bookings. Demand in the semi-finished and finished long steel markets remained moderate. Transactions of around 600 t were recorded on 18 March in Raipur as against 2,000 t on 17 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.