SteelMint Daily Trade Sheet - 4 Apr'23

SteelMint's bi-weekly domestic pellets (Fe 63%) index, PELLEX, inched down by INR 50/tonne (t) to INR 9,650/t DAP Raipur on 4 April 2023 compared to the previous assessment on 31 March, 2023. Overall, deals were limited. One deal of 20,000 t of pellets (Fe 63.5%) was recorded at INR 10,050/t DAP Raipur by pellet producers in this region

Sponge iron prices in India were mostly stable, with prices in some key locations rising by INR 50-200/t. However, prices in central and south India fell slightly by INR 50/t. Active demand and an increase in offers floated by manufacturers kept prices steady. A total of 21,750 t of transactions were recorded on 4 April as against 16,240 t on 3 April.

SteelMint's daily steel billet index rose by INR 50/t to INR 46,350/t exw Raipur on 4 April, 2023. The index inched up slightly on active buying interest following price recovery in north India, which influenced suppliers to keep prices firm. SteelMint recorded a total of 4,800 t of deals in Raipur on 4 April as against 1,800 t on 3 April.

SteelMint's India HRC (SAE1006) export index fell w-o-w by $7/t to $705/t FOB east coast this week against $712/t last week. Market activities in the Middle East and Vietnam have slowed down during the Ramadan month and absence of active buying interest.

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.