SteelMint’s bi-weekly domestic pellets (Fe 63%) index, PELLEX, decreased by INR 100/t to INR 9,700/tonne (t) DAP Raipur on 28 March compared to the previous assessment on 24 March, 2023. One deal of 10,000 t was heard at INR 9,650/t. Other than that market participants were silent as the current financial year is nearing its end.
Prices of sponge iron decreased by INR 150-300/t in key locations on falling steel prices. Spot trades remained just about moderate resulting in offers softening further. Market participants seemed to lack trust in the direction of prices. A total of 9,170 t of transactions were recorded on 28 March as against 29,300 t on 27 March.
SteelMint’s daily steel billet index fell by INR 150/t to INR 45,950/t on March 28, 2023. The drop in the index was due to decreasing bids and limited bookings. Demand in the semi-finished and finished long steel markets remained moderate. Spot trade volumes fell from 3,800 t on 27 March to 3,200 t on 28 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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