SteelMint Daily Trade Sheet - 29 Dec'22

SteelMint's domestic steel scrap (end-cutting) index decreased by INR 300/tonne (t) to INR 44,300/t DAP Mandi Gobindgarh on 29 December, 2022. Steel ingots prices in Mandi saw a marginal correction of INR 300/t d-o-d to INR 49,300/t.

SteelMint's weekly price index of India's low-grade iron ore fines (Fe 57%) exports stood at $65/tonne (t) FOB east coast on 29 December, 2022, stable w-o-w. Trading activity was muted, with the majority of market participants cautious about acquiring more material given the decline in buying interest of mills.

The steel billet index decreased by INR 350/tonne (t) to INR 46,150/t d-o-d exw-Raipur on 29 December, 2022. SteelMint's daily index showed a downward trend due to lower acceptance of prices at higher levels. Moreover, lower volumes of trades were recorded in the market. Billet transactions of only 100 t were recorded on 29 December in Raipur as against 3,500 t reported on 28 December.

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.