SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, inched down by around INR 50/t to INR 9,950/tonne (t) DAP Raipur on 14 March compared to the last assessment on 10 March, 2023. No deal was reported as market participants showed least interest to buy pellets at the current offer. However, buyers are looking for the upcoming OMC auction in Odisha on 16 March, 2023.
SteelMint’s billet index increased slightly by INR 50/t d-o-d to INR 46,400/tonne (t) exw-Raipur on 14 March, 2023. Demand for semis and finished long steel remained stable. Prices in north India fluctuated today impacting the market. Transactions of around 2,800 t billets were recorded on 14 March in Raipur as against 3,600 t reported on 13 March.
SteelMint’s India HRC (SAE1006) export index stood at $716/t FOB east coast this week, up $8/t FOB w-o-w. The index rose on the back of higher offers for the UAE market. However, Indian mills are yet to start quoting to Vietnamese buyers amid anticipation of improved realisations in the near term.
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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