SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, inched down by around INR 100/t to INR 9,800/tonne (t) DAP Raipur on 21 March compared to the last assessment on 17 March, 2023. The index has hit close to a 2-month low as INR 9,700/t DAP Raipur levels were seen in mid-January, 2023.
The downtrend in sponge iron prices continues. Prices fell by INR 100-400/tonne (t) in key locations across the country. Prices of the material have been fluctuating wildly of late, making it challenging for buyers to do any forecasting. However, about 26,200 t of sponge iron transactions were recorded on 21 March in India as against a lower 15,810 t on 20 March.
SteelMint’s India HRC (SAE1006) export index stood at $712/t FOB east coast this week, down by $4/t FOB w-o-w.
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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