Indian mills have recently concluded over 10,000 tonnes (t) of pig iron purchases through auctions, which indicated a potential stabilisation in prices. BigMint understands that pig iron prices have bottomed out in the domestic market as cost considerations are likely to deter sellers from offering at lower-than-current levels while raw material prices, too, are expected […]
The South Asian imported ferrous scrap markets were relatively active today, with slight upward movement and a general bullish sentiment prior to the year-end closure and restocking activities. In India, EU-origin HMS (80:20) scrap was offered at $360-365/t, but buying activity remained cautious. Pakistan saw a slight increase, with UK shredded scrap priced at $390/t. […]
Iran’s semi-finished steel exports in the first eight months of the current Persian year (21 March 2024-20 November 2024) stood at 3.84 million tonnes (mnt), a decrease of 22% compared to the same period last year, according to data from Petrometals. However, exports of long products were recorded at 2.34 mnt, up 21% y-o-y, while […]
Prices of Indonesian thermal coal at Indian ports remained under pressure this week due to weak demand. In the domestic thermal coal market, sufficient stock availability, lack of urgency to conclude deals and the approaching winter holidays have weighed on trading activities. Notably, thermal or non-coking coal stocks at Indian ports increased by 2% to […]
The Southeast Asian billet market exhibited divergent dynamics influenced by China’s economic developments and showed faint signs of improvement partially due to China’s market optimism. Despite local gains, Chinese mills hold export prices, prioritising domestic finished steel shipments over exports of semi-finished products. Meanwhile, Turkish demand for restocking increased, and sellers vented strong price expectations. […]
This week, global ferrous scrap markets saw mixed trends. Prices in Turkiye and Pakistan showed modest recovery, driven by restocking and pre-holiday demand, while India saw slight increases despite weak domestic steel demand. Vietnam, the UAE, and South Korea experienced price declines due to sluggish demand and weak market sentiment. US export prices rose, supported […]
Global manganese ore prices have experienced a slight uptick, driven by increasing operational costs. Despite modest demand for manganese alloys, producers have adjusted their pricing to account for higher input costs and other operational expenses. Market overview Global manganese ore prices rise: The global manganese ore market is witnessing a shift in sentiment, with producers increasing […]
The Chinese steel market saw an uptickin prices this week, largely mirroring the rise in Shanghai Futures Exchange (SHFE) prices. Domestic steel product prices, including billet, hot-rolled coil (HRC), and rebar, saw w-o-w increases. Iron ore prices also experienced a slight upward trend this week. 1. Iron ore spot prices increase by $2/t w-o-w: The benchmark […]
*Shipments fall to 1.53 mnt in Nov’24 *Chinese demand takes a beating as steel output drops *CY’24 export volumes may reach around 30 mnt Morning Brief: India’s exports of iron ore (excluding pellets) were recorded at 1.53 million tonnes (mnt) in November 2024 as against 1.97 mnt in October, as per BigMint assessment. India’s iron ore […]
Feng Hsin Steel, Taiwan’s largest rebar producer headquartered in Taichung in central Taiwan, has decided to roll over its rebar list prices and buying prices of local scrap for transactions over December 9-13 to monitor market changes, according to a company official. For business discussions till this Friday, the mini-mill continues to offer its 13mm […]