SteelMint’s weekly Odisha iron ore fines (Fe 62%) index remained stable at INR 5,700/t ex-mines on 4 March, 2023. However, market sources informed that fewer offers appeared this week. Most miners held back offers due to dispatch-related issues while some of them have nearly exhausted their EC limits for this fiscal.
Prices of sponge iron in India fluctuated on 4 March, 2023. In some key locations, they were up by INR 50-100/tonne (t) as suppliers quoted higher offers. Market participants were less active due to higher offers. About 10,750 t of sponge iron transactions were recorded on 4 March in India as against 17,200 t on 3 March.
SteelMint’s billet index inched up by INR 200/t d-o-d to INR 46,200/tonne (t) exw-Raipur on 4 March, 2023. Billet prices inched up on higher offers. Trade in semi-finished and finished long steel remained moderate. Transactions of around 2,600 t were recorded on 4 March in Raipur as against 3,400 t on 3 March.
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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