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 […]
The Bangladesh imported scrap market remained slow this week due to ongoing LC challenges and weak finished steel demand. Imported scrap prices increased by $9/tonne (t) although steel mills and importers reported limited buying interest as ample inventories and subdued rebar sales continue to weigh on sentiments. BigMint’s weekly assessments Market comments According to a […]
Mysteel Global: The European Union (EU) has announced a review of its safeguard measures on certain steel product imports to reassess the allocation and management of tariff-rate quotas, Mysteel Global learned from a legal document published in the Official Journal of the European Union on 17 December. The EU’s current safeguard measures, introduced in July 2018 […]
BigMint’s billet index fell slightly by INR 50/t today, settling at INR 39,000/tonne (t) exw-Raipur on 17 December 2024. The index remained range-bound today, exhibiting slight dips towards the end of the trading session. Moderate buying activity was recorded in the semi-finished and finished steel segments, particularly in the latter half of the day. This […]
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market remained steady at INR 36,900/t DAP on 17 December 2024. The steel scrap market is witnessing moderate trade activity, with mills opting to procure scrap strictly based on their immediate production requirements. Despite steady domestic demand, imported scrap buying has been largely put on hold […]