This week, the South Asian ship recycling markets showed mixed trends. India’s Alang benefitted from an influx of specialised units, despite challenges from a weakening rupee. Pakistan remained stagnant due to ongoing financial struggles and a shortage of US dollars. Meanwhile, Bangladesh showed signs of recovery, with firmer pricing and new tonnage arriving at Chattogram, […]
Morning Brief: Signalling another dismal week, the India Steel Composite Index remained stuck at 130.1 points on 6 December 2024, unchanged as against the previous assessment on 29 November. The index had earlier straddled these levels in September 2024, ahead of the festive season-led restocking rush. The sub-indices exhibited mixed trends w-o-w. Longs recovered by a […]
Mysteel Global: Global mining giant Rio Tinto has set its annual guidance for iron ore shipments from its Pilbara operations in Western Australia at 323-338 million tonnes (mnt) (on a 100% basis) for 2025, unchanged from that in 2024, according to an announcement on 4 December. During the first three quarters of this year, the world’s […]
Indian flat producers rolled over their list prices of coated products for December 2024 against the previous month-end levels. Also, mills extended price support of INR 800-1,250/t ($9-15/t) towards the end of November. Subsequent to the announcement, the estimated list price of galvanised plain (GP, 0.8mm 80gsm) coil stands at INR 59,000-59,250/t ($697-700/t) ex-Mumbai and […]
Morning Brief: The decline in China’s crude steel production continued. Over January-October, 2024 (10MCY’24), it fell 3% to 850 million tonnes (mnt) compared to 877 mnt in the corresponding period last year (CPLY), as per data NBS maintained with BigMint. M-o-m, October output, however, rose 2.9% to 81.9 mnt. Province-wise break-up The top five among the […]
This week, global ferrous scrap markets faced continued softness, driven by weak steel demand, high inventories, and cautious sentiment. Turkiye, India, and Pakistan saw price declines, while Bangladesh and Vietnam experienced limited activity. Issues like low rebar sales, financial challenges, and uncertainty over import duties weighed on the market, keeping trade minimal across key regions. […]
Iron ore prices in the Odisha region remained largely stable this week, with participants exhibiting a cautious stance toward fresh purchases. Limited buying interest prevailed, driven by weak market sentiments and subdued demand. Adding to this, a material shortage was observed as major miners withheld from offering new supplies, further dampening market activity. BigMint’s Odisha […]
China’s steel market exhibited mixed trends this week amid uncertain market conditions and weak demand. Notably, domestic steel prices, especially that of billets and HRC, decreased due to shifts in raw material costs and futures market trends. While rebar prices edged up, coking coal prices remained largely stable, and iron ore prices ticked downward. 1. […]
The global ferro chrome market will see steady demand, especially in Europe, where consumption is projected to rise 10% by 2026, said industry experts at Chromium 2024, a two-day conference held by the International Chromium Development Association (ICDA) in Cape Town, South Africa, on 6-7 November 2024. BigMint shares key insights from the summit below. […]
SteelDaily: This week, the combined ferrous scrap inventory of eight major South Korean steel mills remained largely stable. There was a marginal hike, which could be attributed to cuts in scrap procurement prices nationwide. The lower prices led to slightly higher inventory levels, as steelmakers stocked up on scrap. Stocks were up marginally by 0.5% to […]