Indian semi-finished steel prices decreased sharply as per SteelMint's assessment. Domestic billet prices fell by INR 300-2,000/t.The finished long steel market saw limited demand during the week although prices declined by INR 500-2,500/t w-o-w.Amid sluggish demand, flat steel prices fell across India. Meanwhile, consecutive declines in global HRC export offers also weighed on buyers' sentiments in the domestic market.
Iron ore and pellets
Steel major JSW Steel had scheduled an auction for 1.18 million tonnes (mn t) of iron ore fines (Fe 57%) on 18 Nov'21. The entire quantity was booked at INR 710/t (ex-mines). The base price had been set at INR 700/t (ex-mines), as per reports.
SteelMint's India pellet