SteelMint’s domestic steel scrap (end-cutting) index decreased by INR 700/tonne (t) to INR 43,400/t DAP Mandi Gobindgarh on 9 January, 2023. Prices in almost all the key markets decreased by up to INR 500/t on 9 January.
India’s sponge iron prices fell by INR 50-350/t in key locations amidst a sharp correction seen in semi-finished steel prices in northern India and lack of buying enquiries for the material due to weak sentiments in the spot market. About 15,800 t of sponge iron transactions were recorded on 9 January in India. as against 11,050 t on 7 January.
SteelMint’s billet index declined to INR 46,900/tonne (t) (- INR 350) exw-Raipur on 9 January, 2023. Billets prices decreased on lower offers and moderate buying. Trade in semi-finished and finished long steel were also moderate. Transactions of around 2,600 t were recorded on 9 January in Raipur as against 1,200 t as reported on 7 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.
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