SteelMint Daily Trade Sheet - 2 Mar'23

SteelMint's domestic scrap (end-cutting) index remained unchanged d-o-d at INR 43,900/tonne (t) DAP Mandi Gobindgarh on 2 March, 2023. The index remained stable with the market showing a slowdown in trade.

Sponge iron prices in India witnessed mixed trends, falling by INR 50-200/t in some key locations, whereas prices in Ramgarh and Raigarh showed a marginal increase of INR 50-200/t. Spot trading remained moderate throughout the day across regions. About 14,500 t of sponge iron transactions were recorded on 2 March in India as against 20,700 t on 1 March.

SteelMint's billet index decreased by INR 200/t to INR 46,250/tonne (t) exw-Raipur on 2 March, 2023. The market is experiencing low buying activity due to falling prices and limited demand for finished products. Transactions of around 1,600 t were recorded on 2 March in Raipur as against 3,320 t reported on 1 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.