SteelMint Daily Trade Sheet - 24 Apr'23

SteelMint's domestic steel scrap (end-cutting) index decreased by INR 600/tonne (t) to INR 42,700/t DAP Mandi Gobindgarh on 24 April, 2023. Amid a liquidity crisis in the market, limited demand for semis and finished steel emerged as the "main reason" for the drop in prices in Mandi.

Prices of sponge iron decreased by INR 100-400/tonne (t) in key markets across the country. Amid the continuous decline in spot demand for semi-finished steel products, sponge prices dropped significantly. A total of 8,750 t of transactions were recorded on 24 April as against 4,190 t on 22 April.

SteelMint's billet index fell by INR 450/tonne (t) d-o-d to INR 46,000/tonne (t) exw-Raipur on 24 April, 2023. The billet index came down amid weak market sentiments caused by the sluggish north Indian market and the downtrend in finished long steel segment. Transactions of around 4,150 t were recorded on 24 April as against 1,250 t on 22 April.

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.