SteelMint’s index for Fe63% concentrate prices currently stands at around INR 5,200/t exw, stable w-o-w. Meanwhile, two deals of 40,000 t and 12,000 t were concluded at INR 5,200/t exw and INR 5,300/t exw, respectively. Iron ore concentrate prices in Jabalpur, central India, remained stable w-o-w due to a hike in pellet prices and stability in Odisha’s iron ore prices.
Sponge iron prices dropped in the range of INR 50-200/t in key locations on 22 February. Due to the ongoing downturn in steel prices in north India, specially Punjab, prices kept dropping as spot transactions remained low. About 17,920 t of sponge iron transactions were recorded on 22 February in India as against 21,490 t on 21 February.
SteelMint’s India pellet (Fe 63%, 3% Al) export index FOB east coast was recorded at $126.5/t, up $8.5/t w-o-w due to positive buying interest and some active deals. Indian pellet export prices have risen on the back of a hike in global iron ore prices as China’s real estate market is expected to rebound with the help of more stimulus by the government.
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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