SteelMint’s domestic scrap (end-cutting) index edged up by INR 300/t d-o-d to INR 44,300/tonne (t) DAP Mandi Gobindgarh on 6 March, 2023. The index rose slightly despite slowdown in trade activities even as shortage of scrap persists in the market.
Sponge iron prices in India rose in the range of INR 100-400/tonne (t) in key locations on account of higher offers floated by the suppliers. Buying activity in the spot market increased significantly. Sponge iron trades totaling over 22,000 t were noted on 6 March in India compared to 10,750 t on 4 March.
SteelMint’s billet index increased by INR 550/t d-o-d to INR 46,750/tonne (t) exw-Raipur on 6 March, 2023. The index showed an upward trend on moderate trades at higher prices. Demand for semis remained modest while trade in finished long steel showed mixed trends. Transactions of around 1,960 t were recorded on 6 March in Raipur as against 2,600 t reported on 4 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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