SteelMint Daily Trade Sheet - 26 Jun'23

SteelMint's domestic steel scrap (end-cutting) index fell by INR 500/t d-o-d to INR 41,800/t DAP Mandi Gobindgarh on 26 June, 2023. The scrap market saw limited trade inquiries. Major mills reduced scrap buying due to limited demand for steel.

The downtrend in sponge iron prices continues. Prices fell by INR 50-300/tonne (t) in major locations across India. Prices of the material have been fluctuating wildly of late, making it challenging for buyers. About 14,860 t of sponge iron transactions were recorded on 26 June in the country as against 7,250 t on 24 June.

SteelMint's billet index decreased by INR 200/tonne (t) d-o-d to INR 43,400/t exw-Raipur on 26 June, 2023. The index slide on weak sentiments influenced by the north Indian market, slow demand. Transactions for 1,810 t were recorded on 26 June as against 2,285 t on 24 June.

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.