SteelMint Daily Trade Sheet - 20 Feb'23

SteelMint's domestic scrap (end-cutting) index remained unchanged d-o-d at INR 44,000/tonne (t) DAP Mandi Gobindgarh on 20 February, 2023 The index remained stable with the market showing a slowdown in trade activities even as shortage of scrap persists in the market.

Sponge iron prices in India fell by INR 150-650/tonne (t) in key locations on 20 February. Prices fell further as spot trades remained limited due to the continuous decline in steel prices in north India, particularly Punjab. About 12,650 t of sponge iron transactions were recorded today in India as against 9,170 t on 18 February.

SteelMint's billet index fell by INR 400/t to INR 46,500/tonne (t) exw-Raipur on 20 February, 2023. The index declined on limited trades at lower price levels. Demand for semis and finished long steel remained subdued. Prices in north India showed a decreasing trend which impacted the market. Transactions of around 1,450 t were recorded on 20 February in Raipur as against 1,000 t on 18 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.