The South Asian and Turkish imported scrap markets exhibited mixed activity today, with India seeing slight gains in containerised shredded prices due to supply constraints from the US and improved domestic sentiments. Meanwhile, Pakistan remained quiet as buyers eased into the holiday period, while Bangladesh’s market showed steady sentiment, supported by scrap shortages and firm […]
Steel billet prices in the global market remained largely stable this week. Approaching New year holidays have kept market participants away from the market, resulting in weakened sentiments amid absence of trade activities. However, in the Middle East some trades were recorded at lower levels. Also, an export tender conclusion is awaited. However, Turkish imported […]
Last week, global ferrous scrap markets witnessed a largely stable price trend, with limited trading activity across key markets. Prices saw slight declines due to the holiday season, weak demand, and economic uncertainties. Mills were cautious, postponing bookings, while domestic scrap prices held steady in several markets. The market remained subdued, with limited expectations of […]
Turkish imported ferrous scrap prices fell by $2/t w-o-w in the final week of the year, driven by reduced market activity ahead of the Christmas and New Year holidays. Low rebar demand made Turkish mills hesitant to purchase more scrap, dampening market confidence and limiting the potential for any price recovery in the near term. […]
Japan Metal Daily: Several South African chromium producers have agreed with Japan’s Nippon Steel Stainless Steel Corporation to reduce the price of ferro chrome, a key raw material for stainless and special steel, by around 7% for January-March 2025. Similar moves are expected from other companies in the industry as well. This marks the second straight […]
Mysteel Global: The Chinese metallurgical coke market showed signs of weakening on 24 December, as downside pressures came from stable coke supply, steelmakers’ waning demand for the material, and declines in coal prices. “Under these circumstances, China’s coke market is expected to lose ground in the near term, with domestic steel mills likely to require another […]
Morning Brief: Global crude steel production in January-November 2024 (11MCY’24) reached 1,694 mnt (or nearly 1.7 bnt), down 1.4% y-o-y as per latest data published by the World Steel Association (WSA). The 71 countries that report to the WSA account for around 98% of total global crude steel production. Crude steel output in November stood at […]
BigMint’s billet index inched up by INR 50/tonne (t) d-o-d to INR 39,300/t exw-Raipur on 23 December 2024. The index improved slightly today, as higher offers were floated, supported by a lift in buying activity. This resulted in moderate transaction volumes. Transactions of about 1,500 t were recorded today. In the finished steel segment, rebar […]
On 18 December 2024, Sandur Manganese & Iron Ore Ltd auctioned 57,456 tonnes (t) of manganese ore (Mn: 20-35%, -10-100mm). Approximately 4,032 t were sold at prices ranging from INR 2,500-12,400/t, while the remaining 4,032 t remained unsold, as reported by BigMint. Sources indicated that only around 7% of the total offered quantity was booked. […]
Morning Brief: Extending the trend seen in November, global steel and raw material prices have shown a m-o-m negative trend in December 2024 so far. Except for iron ore, which showed a slight uptick. The winter chill has further turned steel demand cold in the western geographies as well as in China. BigMint goes behind the […]