SteelMint’s domestic scrap index remained almost stable as the market fluctuated in the range of INR 200/t. Meanwhile, end-user demand for steel continued to remain limited. SteelMint’s domestic steel scrap (end-cutting) index decreased by INR 100/tonne (t) to INR 43,500/t DAP Mandi Gobindgarh on 23 January, 2023.
Sponge iron prices in India witnessed mixed trends today, falling by INR 100-150/t in the southern region, whereas prices remained mostly stable in other key locations. Spot trading remained moderate throughout the day across regions. About 20,860 t of sponge iron transactions were recorded on 23 January in India as against 8,800 t on 21 January.
SteelMint’s billet index remains unchanged at INR 47,650/tonne (t) exw-Raipur on 23 January, 2023. Billets prices remained unchanged amid moderate trading activity at same prices. Demand for semi-finished and finished long steel improved slightly today. Transactions of around 3,000 t were recorded on 23 January in Raipur as against 900 t as reported on 21 January.
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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