SteelMint’s weekly Odisha iron ore fines (Fe 62%) index has remained unchanged at INR 4,500/tonne (t) ex-mines (including royalty, DMF and NMET) on 24 December. Market participants reported limited trade activities this week for high grade ore after active response seen in OMC and ESL auctions last week. However, deals for low grade fines continued to remain in place on active export demand.
SteelMint’s billet index increased to INR 45,000/tonne (t) ( +INR 400) d-o-d exw-Raipur on 24 December, 2022. The index improved on the back of positive market sentiments and active trade. Furthermore, the northern area market has solidified further which has influenced the market’s increasing trend. Billet transactions of around 1,100 t were recorded on 24 December in Raipur as against 7,420 t as reported on 23 December.
SteelMint’s daily sponge iron, CDRI, index was assessed at INR 31,900/tonne (t) (+ INR 500) exw-Rourkela on 24 December, 2022. The index rose due to optimism in the market as producers kept prices high and several deals took place. About 2,800 t of transactions were recorded on 24 December as against 4,605 t on 23 December.
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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