SteelMint Daily Trade Sheet - 31 Aug'23

India's sponge iron prices increased in the range of INR 50-200/tonne (t) in some key locations on 31 August, 2023 on rising steel prices even as demand remained low. About 15,750 tonnes (t) of sponge iron transactions were recorded in the country on 31 August compared to 13,400 t on 29 August.

SteelMint's billet index increased by INR 200/tonne (t), reaching INR 45,300/t exw-Raipur, on 31 August, 2023. The spike was further fueled by a significant increase in raw material prices that coincided with the rise in the billet index. Approximately, 3,500 t of transactions for billets were finalized on 31 August as opposed to 2,100 t on 29 August.

SteelMint's weekly India low-grade iron ore fines (Fe 57%) export index increased by $3/tonne (t) w-o-w to $67/t FOB east coast on 31 August 2023.

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.