SteelMint Daily Trade Sheet – 24 Aug’22

SteelMint’s daily steel billet index was assessed at INR 48,550/tonne (t) (+ INR 250/t) exw-Raipur on 24 August, 2022. About 3,600 t of transactions were recorded on 24 August as against 4,900 t on 23 August. Although the index rose, demand turned slow on rising offers due to dull finished steel (rebar) sales in central India.

SAIL-Bokaro Steel Plant held two auctions of steel grade pig iron on 24 Aug’22. At the first auction, no bid was placed for the quantity of 2,000 t (1 rake) with base price at INR 45,000/t exw. However, in another auction for 150 t, the entire quantity was booked at an average price of INR 45,850/t exw.

Sponge iron production in India increased by 8% to over 24 million tonnes (mnt) in January-July, 2022 from a little over 22 mnt in the same period last year, SteelMint data shows. Monthly production too edged up marginally to 3.5 mnt in July as against 3.4 in the previous month.

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.