SteelMint’s daily sponge iron, CDRI index remained more or less flat with an INR 50/tonne dip seen on 12 September, 2022. The index was assessed at INR 34,600/tonne (t) exw-Rourkela. About 6,100 t of transactions were recorded on 12 September as against 1,120 t on 10 September. Demand picked up in the late trade hours, and many deals for Jalna (Maharashtra), western India were concluded.
The domestic steel scrap (end-cutting) index remained stable at INR 45,200/t DAP Mandi Gobindgarh on 12 September, 2022. There is a scrap shortage in the market which limits any major fall in ingot prices. However, if scrap availability improves, a sharp correction of around INR 1,000-1,500/t in ingot prices is expected in the northern region.
SteelMint’s daily steel billet index was assessed stable at INR 47,400/tonne (t) exw-Raipur on 12 September, 2022. Spot trade improved with buyers back in positions to procure raw materials. This led to a surge in spot billet transactions in Raipur. About 5,550 t of spot billet transactions were recorded on 12 September as against 1,300 t on 10 September.
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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