SteelMint Daily Trade Sheet - 2 Feb'23

Sponge iron prices in India fell by INR 200-450/t leading to a decline in trading activities. This trend is due to lower bids followed by volatile prices which have turned buyers cautious and restricted their procurement to just fulfilling their immediate needs on lower offers. About 10,010 t of sponge iron transactions were recorded on 2 February in India as against 23,650 t on 1 February.

SteelMint's billet index fell by INR 400/tonne (t) to INR 46,800/t exw-Raipur on 2 February, 2023. The index dropped amid falling bids and limited bookings. Demand in semi-finished and finished long steel segments remained moderate. Transactions of only 1,600 t were recorded on 2 February in Raipur as against 1,300 t as reported on 1 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.