BigMint's Daily Trade Sheet - 19 Jan'24

OMC auctioned 1.241 mnt of iron ore lumps (Fe 58-64%) on 19 January,2024, with buyers securing 84% of the quantity. Bids varied, increasing by INR 50-550/t for most lots but dropping by INR 50-150/t for some. Simultaneously, OMC auctioned 1.524 mnt of iron ore fines (Fe 54-65%) with increased bids of INR 100-1,000/t against bid prices seen in the Dec'23 auction.

India's sponge iron prices edged up by INR 50-350/tonne (t) in all key locations today on rising steel prices. About 17,630 t of sponge iron transactions were recorded in the country on 19 January compared to 24,355 t on 18 January.

BigMint's billet index inched up by INR 100/t to INR 39,850/t exw-Raipur on 19 January, 2024. About 1,300 t of transactions were recorded on 19 January as against 2,500 t on 18 January.

The below sheet summarises confirmed trades/offers of iron and steel products collected by BigMint to help our users keep track of day-to-day trade dynamics.