SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, stood at INR 10,250/tonne (t), stable on 24 January compared to the last assessment on 20 January, 2023. No deals were reported.
Sponge iron prices in India fell by INR 100-300/t in key locations today. Prices continued to fall as spot trades remained limited due to the constant decline in steel prices in north India, particularly Punjab. This resulted in downward pressure on prices in different regions. About 19,700 t of trade in sponge iron was recorded on 24 January as against 20,860 t on 23 January.
SteelMint’s billet index declined by INR 150/t d-o-d to INR 47,500/tonne (t) exw-Raipur on 24 January, 2023. Billet prices decreased amid slow booking. Demand in the finished long segment was high today and hence substantial bookings of finished steel were seen. Transactions of around 4,050 t were recorded on 24 January in Raipur as against 3,000 t on 23 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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