Key market highlights you need to know to start your day

Iron ore & pellets:

• Pellet offers in Raipur hit record high on lump price gains, market awaits NMDC’s price announcement
• Indian iron ore fines Fe 57% export index up by $8 to $90/t FoB as freight rates cool down
• NMDC’s iron ore rake movement from Chhattisgarh mines up 10% in Mar’21

Coal:

• CIL’s coal production falls to 596.25 mn t in FY’21

Scrap & Metallics:

• India’s domestic steel scrap index remains stable at INR 36,200/t DAP Mandi Gobindgarh basis

Semi-Finished steel:

• SteelMint billet index increases by INR 150/t to INR 41,400/t exw Raipur

Finished steel:

• SteelMint’s benchmark domestic HRC trade price increases by INR 3,000/t as mills plan price revision
• Shagang hikes long steel price by up to RMB 200/t ($31) for early-Apr
• JSW Steel commences production of hot-rolled plates from new 5 mn t facility at Dolvi

Ferro Alloys:

• SAIL concludes tender for 14,500t Ferrosilicon at INR 104,500/t delivered to plants