SteelMint Daily Trade Sheet - 3 May'23

SteelMint's index for Fe 63% concentrate prices stands at INR 5,200/tonne (t) exw, down INR 100/t on 2 May, as against the last assessment on 29 April. Prices have fallen to a three-month low as current levels were last seen in mid-February, as per SteelMint data. Iron ore concentrate prices in Jabalpur, central India, declined this week. Falling pellet prices and iron ore prices in Odisha amid weak market sentiments.

Sponge iron prices decreased by INR 50-100/t in some key locations across the country on unclear market trends. But trading increased as some buyers resumed purchasing, leading to an increase in spot trade volumes compared to yesterday's. But, overall, spot trading activity remained rather limited. A total of 16,900 tonnes (t) of transactions were recorded on 2 May, as against 15,090 t on 2 May.

SteelMint's India pellet (Fe 63%, 3% Al) export index FOB east coast was recorded at $96/tonne (t), down by $4/t w-o-w, as the export market has remained inactive due to the Labour Day holidays in China. Thus, trade was muted.

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.