SteelMint’s weekly Odisha iron ore fines (Fe 62%) index increased by INR 350/t to INR 4,850/tonne (t) ex-mines (including royalty, DMF and NMET) on 7 January. The index rose to over seven-month high as similar price levels were seen in mid-May 2022. The majority of merchant miners raised offers on tight availability and hike in pellets offers.
SteelMint’s domestic scrap index remained almost stable as the market fluctuated in the range of INR 200/t on 7 January. Meanwhile, end-user demand for steel continued to remain limited. SteelMint’s domestic steel scrap (end-cutting) index decreased by INR 100/tonne (t) to INR 44,100/t DAP Mandi Gobindgarh on 7 January, 2023.
SteelMint’s billet index stands unchanged at INR 47,250/tonne (t) (=) exw-Raipur on 7 January, 2023. Billet prices remained stable amid subdued demand and limited buying today. Trades in semi-finished and finished long steel were also slow. Transactions of around 1,200 t were recorded on 7 January in Raipur as against 1,200 t on 6 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.
Leave a Reply