SteelMint’s domestic scrap (end-cutting) index edged up by INR 300/t d-o-d to INR 42,700/tonne (t) DAP Mandi Gobindgarh on 27 March, 2023. The index rose slightly despite slowdown in trade activities even as liquidity issues persisted in the market.
Indian sponge iron prices saw a slight increase of INR 50-200/tonne (t) in some key locations on the back of active demand, optimistic sentiments and higher offers. On the other hand, prices in the central region dropped by INR 250-300/t. A total of 29,300 t of transactions were recorded on 27 March as against 21,100 t on 24 March.
SteelMint’s daily steel billet index was assessed at INR 46,100/tonne (t) exw-Raipur on 27 March, 2023, an increase of INR 100/t. Positive sentiments in the Raipur market following the rally in billet prices in north India pushed prices higher. However, spot trade volumes fell to 3,800 t on 27 March as against 5,100 t on 24 March.
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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