BigMint's Daily Trade Sheet - 8 May'24

BigMint's weekly iron ore concentrate index stood at INR 4,500/t ($54/t) exw, stable as against the last assessment on 4 May. Iron ore concentrate prices in Jabalpur, central India, remained stable this week. Supportive sentiments from pellet and Odisha iron ore market along with decent trades have kept concentrate offers supported.

BigMint's domestic end-cutting scrap index in the Mandi Gobindgarh market decreased by INR 100/tonne (t) to INR 42,200/t DAP on 8 May, 2024. In terms of scrap procurement, there are notable disparities as mills anticipate further drop in prices prompting suppliers to offer discounts.

BigMint's India pellet (Fe 63%, 3% Al) export index (FOB east coast) remained stable w-o-w at $106/tonne (t) on 8 May, 2024. The export market remained sluggish in the last one week following weak buying interest as Chinese participants were away for the week-long Labour Day holiday.

The below sheet summarizes confirmed trades/offers of iron and steel products collected by SteelMint to help our users keep track of day-to-day trade dynamics.