Indonesian non-coking coal exports showed significant growth in the first 11 months of 2024, reflecting a strong recovery in demand across Asian economies. During January-November 2024, total non-coking coal shipments reached 362.03 million tonnes (mnt), marking a 11% increase from the 326.95 mnt exported during the same period in 2023. This growth highlights Indonesia’s sustained […]
Mysteel Global: China’s blast furnace steelmakers and metallurgical coke makers will receive little support from Chinese coking coal prices in 2025, noted Xiong Chao, Mysteel’s senior coal analyst, at the company’s annual conference in Shanghai on 6 December. Supply is expected to outpace demand next year, and, as a result, prices of the commodity will lack […]
China recorded a fall of 2% m-o-m in iron ore and pellet imports to 101.862 mnt in November 2024 as compared to 103.83 mnt in the previous month, according to the General Administration of Customs. The slight drop followed subdued market sentiments. However, in January-November 2024, the world’s largest iron ore consumer and importer received […]
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 […]