SteelMint's Daily Trade Sheet - 19 Oct'23

SteelMint's weekly Indian low-grade iron ore fines (Fe 57%) export index increased by $3/t w-o-w to reach $76/t FOB east coast on 19 October, 2023. The index reached a seven-month high level, with these levels last seen in the second-third week of March 2023.

SteelMint's billet index fell by INR 450/tonne (t) d-o-d to INR 42,000/t exw-Raipur on 19 October, 2023. The index declined significantly owing to lower offers. A notable increase in trade volumes was seen: about 2,050 t of deals in billets were recorded on 19 October as against 910 t on 18 October.

Indian sponge iron prices continued to decline, with prices falling by INR 150-550/t in key locations. About 8,700 t of sponge iron deals were recorded on 19 October compared to 9,650 t on 18 October.

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.