Indian hot-rolled coil (HRC) export offers to the Middle East (ME) witnessed a w-o-w decline as regional trading activity ground to a near halt ahead of the upcoming New Year holidays, according to sources based in the ME. The significant slowdown in trading activity was largely attributed to buyers adopting a cautious approach, opting to […]
CBC: The ferro chrome market in China remained subdued, with prices edging down by $21/t over the week. Medium- and high-carbon ferro chrome prices dropped slightly, while the micro-carbon grade remained largely stable. Reduced steel mill operations and lower-than-expected production schedules contributed to the lacklustre market, leading to weak price expectations. Prices High-carbon ferro chrome: Prices declined […]
MOIL, India’s state-owned mining company, announced a slight increase in offers for manganese ore, effective from January 2025. Mn grades above 44% have witnessed a marginal hike of 1% in offers m-o-m, while lumps below 44% saw an uptick by 5% from last month’s offer, BigMint learnt from sources. Meanwhile, all SMGR (Mn-30%, Mn-25% & […]
Pellet trade volumes in the Indian domestic market rose 50% m-o-m to 982,000 tonnes (t) in November 2024 from 655,000 tonnes (t) in October, according to data maintained by BigMint. This rise was mainly fuelled by restocking activities in the first half of the month and lower bids at the auction from Odisha Mining Corporation […]
Morning Brief: China’s steel exports crossed the 100-million tonne (mnt) threshold in January-November, 2024 (11MCY’24), clocking 101.30 mnt, as per data recorded by China’s Customs and maintained with BigMint. The volume also surpassed 2023’s 90-odd mnt. The exports are the second-highest ever, playing catch-up with the peak of 115 mnt recorded in 2015. However, on a […]
Sponge iron prices in India rose INR 100-400/tonne (t) across markets today. PDRI prices closed at INR 23,600-26,300/t, while CDRI was at INR 26,300-31,000/t. Sponge prices saw an uptick on Monday. However, following a continuous rise in prices and bookings, buyers opted for need-based purchasing. A moderate transaction volume was recorded today. Transactions for about […]
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. […]