SteelMint’s domestic steel scrap (end-cutting) index fell by INR 300/tonne (t) to INR 43,800/t DAP Mandi Gobindgarh on 23 February, 2023. Low demand for semi-finished and finished steel put pressure on scrap prices.
SteelMint’s weekly index of India’s low-grade iron ore fines (Fe 57%) exports stood at $83/tonne (t) FOB east coast on 23 February, 2023, up $6/t w-o-w. Export prices improved on rising futures and spot prices w-o-w along with positive buying interest amid falling steel margins in China.
SteelMint’s daily steel billet index was assessed at INR 46,300/tonne (t) exw-Raipur, a decrease of INR 200/t d-o-d on 23 February, 2022. The index fell marginally on account of sluggishness in the market following dull finished steel sales. About 2,800 t of transactions were recorded on 23 February as against 1,800 t on 22 February.
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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