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 […]
Mysteel Global: China has passed the long-awaited Energy Law, aiming to boost the country’s transition in the energy industry, Mysteel Global has learned. To take effect on 1 January 2025, the new law fills a legislative gap in establishing a comprehensive regulatory framework for the energy sector, according to Chinese analysts. The development in this area […]
Mysteel Global: Chinese blast-furnace (BF) steel mills managed to earn some profits on their steel sales in October, though their production costs moved higher with the climb in prices of major steelmaking raw materials, according to Mysteel’s latest monthly survey of the 91 BF mills it tracks. Last month, although the sampled steelmakers’ average profit on […]
Imported manganese ore prices have recently seen a slight increase after a period of stability despite softening demand for manganese alloys. Market overview Global manganese ore prices rise: The downstream manganese alloys market is currently characterised by uncertainty, leading to a cautious sentiment. Participants are adopting a wait-and-see approach due to fluctuating demand. To counter low […]
Iron ore prices in Odisha remained under pressure this week as the domestic pellet, sponge iron and steel markets continued their downtrend. Market participants attribute this to a lack of confidence among steelmakers in procuring raw materials at prevailing rates. The ongoing slump in iron ore export prices further weighed on raw material prices in […]
The Chinese steel market faced a significant decline, following the downward trajectory of Shanghai Futures Exchange (SHFE) prices. Domestic steel products, including billets, hot-rolled coils (HRC), and rebars, witnessed w-o-w price drops. Additionally, prices of key raw materials like iron ore and coking coal, also decreased. The average daily crude steel output of CISA-affiliated mills […]
China’s crude steel production in October 2024 stood at 81.88 million tonnes (mnt), reflecting a 2.9% rise compared to 79.09 mnt in October 2023, as per data from the National Bureau of Statistics (NBS). Moreover, the same increased by 6% m-o-m against 77.07 mnt a month ago. However, crude steel production in January-October 2024 edged […]
Morning Brief: The new US President-elect played a skilled and winning hand, flashing out his trump card of “MAGA”-Making America Great Again”. Waiting and watching was China, yet another country amongst the most powerful in the global trade arena, apprehending a new US tariff regime in which it could be the worst hit. China has reasons […]