Six things you need to know to start your day – SteelMint

Iron ore & Pellets –

• Odisha Mining Corp to auction 1.1 mn t iron ore lump on 31 Mar’21, raises base price upto INR 550/t.
• AM/NS India signs grant for 7.16 mn t Sagasahi iron ore deposit

Coal – Australian coking coal prices diverge across grades amid demand weakness

Scrap & Metallics –

• Hyundai Steel cuts bid for Japanese scrap by $18
• Imported scrap buyers in India remain on the sideline on uncertainties of vessel freight hike & cargo deliveries

Semi Finished steel –

• SteelMint’s daily billet index surges by INR 1,000/t on active demand from patra manufacturers
• Billet import prices in the Philippines rise by $5-10/t in recent deals

Finished steel –

• JSW Steel completes acquisition of Bhushan Power and Steel.
• SAIL floats 10,000t HR-plate export tender for end-May delivery

Ferro alloys – Indian Ferrosilicon prices stable owing to balanced supply-demand dynamics