India’s sponge iron market witnessed a rise in prices ranging from INR 100-350/t in almost all major locations. About 21,350 tonnes (t) of sponge iron transactions were recorded in the country on 4 March compared to 6,000 t on 2 March.
An increase in prices for domestic end-cutting scrap at Mandi Gobindgarh steel market was noticed on 4 march, 2024. Prices surged by INR 200/t, reaching INR 37,800/t on delivery at the plant.
BigMint’s billet index rose by INR 300/t, reaching INR 39,700/t exw-Raipur on 4 March, 2024. The index experienced a significant increase, driven by forward trading activity from participants in the semi-finished steel segment. About 5,070 t of transactions were recorded on 4 March as against 1,500 t on 2 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.
