SteelMint Daily Trade Sheet - 19 Apr'23

SteelMint's index for Fe 63% concentrate prices currently stands at around INR 5,550/tonne (t) exw, down INR 50/t w-o-w. Iron ore concentrate prices in Jabalpur, central India, saw a downward trend this week with a correction in pellet prices. Weak response to Odisha Mining Corporation's (OMC) recent iron ore fines auction has also affected concentrate prices, SteelMint understands.

Sponge iron prices fell by INR 100-200/t in some key locations across the country due to a lack of buying inquiries in the spot market. As a result, suppliers in various regions reduced their offers. A total of 8,800 t of transactions were recorded on 19 April as against 13,960 t on 18 April.

SteelMint's India pellet (Fe 63%, 3% Al) export index FOB east coast was recorded at $109/tonne (t), decreasing by $3/t w-o-w, due to low demand in China and bid-offer disparity. The index has fallen to over three-month low. These levels were last seen in early Jan'23.

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.