Global ferrous scrap offers remained positive this week, supported by tight supply, improved finished steel demand, and stronger US domestic prices. Turkiye and India saw firm prices, while Bangladesh and Pakistan remained slow due to Ramadan. Japan’s export offers rose, and Vietnam showed cautious buying. South Korea and China remained largely subdued. Turkiye: The imported scrap […]
The Chinese steel market faced significant challenges this week, evidenced by recent price declines on the Shanghai Futures Exchange for hot-rolled coils (HRCs) and billets. This downturn was driven by escalating international trade barriers, including tightening EU import quotas in April, and India’s impending 12% safeguard duty, which are expected to reduce export opportunities. Simultaneously, […]
The domestic steel market saw a positive trend in prices during week 13 (17 March-22 March 2025), as semi-finished prices moved up by INR 600-1,500/tonne (t). Finished steel demand improved, which influenced prices to a certain degree in the semis and raw materials segments. Iron ore, pellet Coal Ferrous scrap Ferro alloys Semi-finished Finished long […]
Morning Brief: BigMint’s India steel composite index, a barometer of the domestic market, witnessed an uptick of 2% w-o-w to reach 135 points on 21 March, 2025 following the much-awaited announcement of a 12% provisional safeguard duty recommendation by the Director General of Trade Remedies (DGTR) on imports of alloy and non-alloy flat steel products. The […]
This week, imported manganese ore prices experienced a slight decline, primarily driven by reduced export inquiries and subdued domestic demand. Market overview Slump in Mn alloys demand stalls imported ore purchases: Imported manganese ore prices declined slightly this week due to reduced inquiries and lower purchase volumes, influenced by a sluggish export market for Indian manganese alloys. […]
The iron ore market in Odisha remained steady this week, as auction results from the Odisha Mining Corporation (OMC) provided price support, while availability from other merchant miners remained scarce. The market has seen restricted supply after the environmental clearance (EC) limits of several miners expired for the current financial year. As a result, buyers […]
BigMint’s weekly iron ore concentrate index was assessed at around INR 4,700/tonne (t) ($54/t) exw-Jabalpur, stable against the previous assessment on 8 March 2025. Sponge iron prices in the country fell by INR 50-200/tonne (t) d-o-d today in major locations.PDRI prices were assessed at INR 23,900-27,000/t, while CDRI rates hovered at INR 26,550-31,000/t. BigMint’s billet […]
Domestic prices of 60-14 grade silico manganese edged down w-o-w by INR 550/tonne (t) ($6/t) to INR 71,600-73,100/t ($821-838/t) exw on 11 March 2025, as per BigMint’s assessment. Prices decreased due to the ongoing supply-demand imbalance in the market, coupled with persistent decline in steel demand. These factors have contributed to a reduction in market […]
On 12 March 2025, Sandur Manganese and Iron Ore (SMIORE) held an auction for 22,176 tonnes of manganese ore (Mn: 18-35%, -10-100 mm). Of the total quantity offered, 6,552 t (Mn: 20-32%) were successfully sold, with prices ranging from INR 2,520-11,370/t. Approximately 30% of the offered quantity was sold, leaving around 15,624 t unsold. Buyers […]
Mysteel: China’s demand for construction steel is expected to recover further in March thanks to the pleasant weather and the improvement in the financial situation of construction enterprises, according to Mysteel’s latest monthly survey released on March 11. The prediction was chiefly based on actual volumes of construction steel bought by domestic end-users in February and […]