SteelMint Daily Trade Sheet - 8 Feb'23

SteelMint's index for Fe 63% concentrate prices currently stands at around INR 5,350/tonne (t) exw, down INR 350/t on 8 February as against the last assessment on 4 February, 2023. Iron ore concentrate prices in Jabalpur, central India, witnessed a downward trend this week amid a correction in pellet prices.

Indian sponge iron prices declined in the range of INR 150-500/t in key locations today. Prices of sponge iron have been fluctuating widely making it difficult for buyers to predict prices. About 13,060 t of sponge iron transactions were recorded on 8 February as against 11,600 t on 7 February.

SteelMint's India pellet (Fe 63%, 3% Al) export index FOB east coast was recorded at $118/t, down $8/t w-o-w on declining bids from buyers. According to market sources, the drop in iron ore prices and sluggish steel demand led to the fall in bids.

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.