SteelMint Daily Trade Sheet - 5 Jan'23

SteelMint's domestic steel scrap (end-cutting) index remained stable and recorded at INR 44,600/t DAP Mandi Gobindgarh on 5 January, 2023. Steel ingots prices opened on a positive note, increasing by INR 300/t to INR 50,000/t but inched down later in the day to INR 49,900/t.

SteelMint's weekly price index of India's low-grade iron ore fines (Fe 57%) exports stood at $66/tonne (t) FOB east coast on 5 January, 2022, up $1/t w-o-w. Sources stated that most mills in China were running iron ore stocks at a low level, resulting in higher expectations for restocking demand.

SteelMint's billet index moved up marginally to INR 47,500/tonne (t) (+INR 250) exw-Raipur on 5 January, 2023. Billet prices increased slightly on higher offers. Trade volumes in semi-finished and finished long steel remained low. Transactions of around 1,200 t were recorded on 5 January in Raipur as against 3,850 t reported on 4 January.

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.