SteelMint Daily Trade Sheet - 25 Aug'22

SteelMint's scrap index fell to the lowest level in four weeks, while end-user demand for steel on the market still remains abysmal. The domestic steel scrap (end-cutting) index fell by INR 600/tonne (t) to INR 45,500/t DAP Mandi Gobindgarh on 25 August, 2022.

SteelMint's daily steel billet index was assessed at INR 48,300/tonne (t) (- INR 250/t) exw-Raipur on 25 August, 2022. About 4,350 t of transactions were recorded on 25 August as against 3,600 t on 24 August. The index fell slightly, although spot trade volumes improved following firm buying interest for finished steel products.

Trade-level prices of hot-rolled coils have dropped about INR 1,100/t ($14/t), or 1.9%, compared with end-July, as per SteelMint assessment. Improved buying in the early days of the month and tight supplies were primary factors lending support to prices in August.

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.