SteelMint’s domestic steel scrap (end-cutting) index fell by INR 100/tonne (t) to INR 43,900/t DAP Mandi Gobindgarh on 13 March, 2023. Low demand for semi-finished and finished steel products put downward pressure on scrap prices.
Sponge iron prices in India witnessed mixed trends today, falling by INR 100-450/t in some key locations. On the other hand, prices in Rourkela, Mandi and Raigarh showed a marginal increase of INR 50-200/t. Spot trading remained moderate throughout the day across regions. About 16,210 t of sponge iron transactions were recorded on 13 March in India as against 5,810 t on 11 March.
SteelMint’s daily steel billet index was assessed at INR 46,350/tonne (t), up by INR 100/t exw-Raipur on 13 March, 2023. Prices stayed high as spot trades improved, which was followed by a brisk demand for finished products and rising steel prices. About 3,600 t of transactions were recorded on 13 March as against 1,450 t on 11 March, 2023.
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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