SteelMint Daily Trade Sheet - 3 Jul'23

SteelMint's domestic steel scrap (end-cutting) index fell by INR 400/t d-o-d to INR 41,300/t DAP Mandi Gobindgarh on 3 July, 2023. The index remained down today due to subdued trading activity in the semi-finished and finished steel markets.

Sponge iron prices fell further by INR 100-500/tonne (t) in key locations across India on 3 July, 2023. Prices fell on lack of buying enquiries in the spot market today. About 15,150 tonnes (t) of sponge iron transactions were recorded on 3 July as compared to 3,960 t on 1 July.

The SteelMint billet index in India recorded a 7-month low on 3 July, 2023, dropping by INR 600/tonne (t) to INR 42,400/t exw-Raipur. This decline in the index is attributed to weak performance in the finished steel sector across the country. Transactions for semi-finished steel amounted to 2,680 t was recorded on 3 July as compared to 1,250 t on 1 July.

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.