South Asia’s imported scrap market remained mixed, with buyers in India staying largely inactive due to high offers, while Pakistan saw moderate restocking ahead of Ramadan. In Bangladesh, weak steel demand and sluggish construction activity kept purchases limited despite some buying interest. Meanwhile, Turkiye’s market remained steady, as mills resisted further price hikes, even as […]
Author: Inter Steel BD
UAE: Domestic ferrous scrap index gains $4/t w-o-w on improved buying before Ramadan
The UAE’s domestic ferrous scrap index increased slightly by AED 16/tonne (t) ($4/t) w-o-w amid improved buying activity before the Ramadan holidays. BigMint’s benchmark assessment for HMS (80:20) processed scrap was at AED 1,217/t ($331/t), reflecting an AED 16/t ($4/t) increase compared to last week’s AED 1,201/t ($327/t). Domestic demand for ferrous scrap in the […]
Is the global coking coal market edging towards a supply shortfall? BigMint investigates
Morning Brief: There is a growing threat of diminishing supplies of prime coking coal in the global market which casts a long shadow on the steel industry in different countries that are gearing up to increase their production through the BF-BOF route. India, of course, is the first case in point. India’s production of steel through […]
India: Trade-level HRC offers remain stable amid limited demand
Hot-rolled coil (HRC) prices across India remained stable w-o-w at INR 47,400-49,500/tonne (t). Conversely, cold-rolled coil (CRC) prices witnessed mixed trends w-o-w, settling at INR 53,000-55,700/t ($617-671/t) across markets. BigMint’s benchmark assessment (bi-weekly) for HRCs (IS2062, Gr E250, 2.5-8 mm/CTL), however, remained stable w-o-w at INR 48,500/t ($549/t) on 15 February 2025. However, CRC (IS513, Gr […]
Weekly round-up: Global ferrous scrap offers rise w-o-w, but mills in Turkiye, India, and Bangladesh resist
Global ferrous scrap offers witnessed moderate gains, with Turkiye’s HMS (80:20)-US, CFR rising 2% w-o-w to $360/t amid firm supplier pricing. Pakistan and Bangladesh saw a 1-2% price increase, though demand remained sluggish. India’s import interest stayed low due to cost concerns. Japan’s H2 prices softened, while US scrap offers climbed on deep-sea demand and […]
India: Imported manganese ore prices surge to 4-month high; global miners prioritise China
Global manganese ore prices have seen a slight increase this week, reaching a four-month high last seen since October 2024. This uptick is primarily attributed to declining port inventories and limited supplies from miners, which have tightened the market. Market overview Limited manganese ore supply hurts smelters: Global manganese ore suppliers are restricting supply to Indian […]
India: Odisha iron ore fines index remains range-bound ahead of OMC auction
Odisha’s iron ore prices remained stable this week as trade activities slowed down ahead of the upcoming OMC auction scheduled for 19 February. Market participants expect that the base prices and total offered quantity will be announced in the next couple of days. BigMint’s Odisha iron ore fines (Fe 62%) index inched up by INR […]
India: Mills raise coated flat steel list prices for Feb’25; trade market follows suit
Trade-level coated flat steel prices rose this week after the mills announced a hike in their tags for February 2025 sales. The effective list price of galvanised plain (GP, 0.8mm, 120gsm, IS277) coils stood at INR 59,250-60,000/tonne ($/t) ex-Mumbai, while pre-painted galvanised iron (PPGI, 0.5mm, 90gsm, IS14246) coils were at INR 69,250-70,000/t ($/t) ex-Mumbai for […]
India: Finished stainless steel prices remain range-bound w-o-w as market fails to gain momentum after Budget
India’s stainless steel finished flats prices remained range-bound while finished longs dropped w-o-w amid weak demand in the finished segment and declining LME nickel prices. Although market participants had anticipated an improvement following the Budget, this has failed to materialise. Budget FY’26: Tariff on stainless steel flat products revised, effective duty unchanged In a move […]
Indian refineries raise pet coke prices in Feb’25 amid supply constraints, rising import costs
Towards the beginning of February 2025, Reliance Industries Ltd (RIL) raised its pet coke prices by INR 902/tonne (t) m-o-m to INR 13,450/t compared to January’s INR 12,548/t. RIL is releasing very limited quantities in the market for sale as the company is consuming a major portion of its production of pet coke in its […]