SteelMint’s domestic scrap (end-cutting) index decreased by INR 100/t d-o-d to INR 43,200/tonne (t) DAP Mandi Gobindgarh on 16 March, 2023. The index edged down slightly because of low trade enquiries for semi-finished and finished steel.
SteelMint’s billet index decreased further by INR 250/t to INR 45,800/tonne (t) exw-Raipur on 16 March, 2023. Buyers are adopting a conservative buying strategy due to the uncertainty in the market which has contributed to the lower pricing. Transactions of around 3,000 t were recorded on 16 March in Raipur as against 2,430 t reported on 15 March.
SteelMint’s weekly index of India’s low-grade iron ore fines (Fe 57%) exports stood at $82/tonne (t) FOB east coast on 16 March, 2023, up slightly by $1/t w-o-w.
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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