SteelMint Daily Trade Sheet - 5 Dec'22

SteelMint's domestic steel scrap (end-cutting) index rose by INR 700/t to INR 41,400/t DAP Mandi Gobindgarh on 5 December, 2022.

SteelMint's daily steel billet index was assessed at INR 42,800/tonne (t) (+ INR 700/t) exw-Raipur on 5 December, 2022. The index rebounded due to rallying steel prices in the northern region, following which the producers across regions have strengthened their offers. Around 3,600 t on 5 December in Raipur as against 1,000 t on 3 December.

SteelMint's daily sponge iron, CDRI, index was assessed at INR 31,000/tonne (t) (+ INR 250) exw Rourkela on 5 December, 2022. The index rose due to active demand. According to sources, producers were able to keep prices steady as the volume of trades increased, which has led to the rise in prices today. About 5,190 t of transactions were recorded on 5 December as against 1,000 t on 3 December.

Indian tier-1 mills have cut list prices for HRC by upto INR 3,000/t ($37) and CRC by upto INR 4,800/t ($59) for early Dec, SteelMint learned from market participants.

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.