SteelMint’s domestic scrap index remained almost stable as the market fluctuated in the range of INR 200/t on 6 February. Meanwhile, end-user demand for steel continued to remain limited. SteelMint’s domestic steel scrap (end-cutting) index increased by INR 200/tonne (t) to INR 42,900/t DAP Mandi Gobindgarh on 6 February, 2023.
Sponge iron prices in India rose by INR 50-250/t in a few key locations today, while prices in Ramgarh witnessed a marginal drop of INR 50/t. Buying interest remained moderate throughout the day. However, spot trades rose significantly by 99% compared to Saturday. About 19,470 t of sponge iron transactions were recorded on 6 February in India as against 9,800 t on 4 February.
SteelMint’s billet index moved up marginally by INR 150/t to INR 46,400/tonne (t) exw-Raipur on 6 February, 2023. Billet prices increased slightly on higher offers. Trade volumes in semi-finished and finished long steel remained low. Transactions of around 2,260 t were recorded on 6 February in Raipur as against 1,500 t reported on 4 February.
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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