The global ferrous scrap market was muted this week. Prices ranged from $363/t CFR (Turkiye) to $395/t CFR (China) in the week under review, edging down by 1-2% w-o-w in key locations. In Turkiye, imported scrap prices fell amid softer domestic rebar sales. Meanwhile, India’s market remained quiet due to the Diwali holidays, resulting in […]
Author: Inter Steel BD
India: Odisha iron ore fines index remains stable despite muted trades during Diwali
Odisha’s iron ore market remained stable this week as market participants took a break from trading activities due to the Diwali festivities. Iron ore prices stayed at last week’s levels, with minimal fluctuations observed as miners, traders, and buyers largely remained away from the market. Trades were mostly on hold, as buyers showed no interest […]
India: How is SAIL planning to cut CO2 emissions amid massive surge in steel production? BigMint explores
Morning Brief: As part of its pledge to achieve net-zero carbon emissions by 2070, India is committed to a set of Nationally Determined Contributions (NDCs). SAIL planning to cut CO2, Some of India’s most ambitious commitments in the short- to mid-term include 1 billion tonnes (bnt) of cumulative emissions reduction and achieving 50% of renewables capacity […]
India: MOIL lowers manganese ore prices up to 7% m-o-m for Nov’24
India’s leading manganese ore producer, MOIL, has announced new prices effective 1 November 2024. Grades above 44% will experience a 7% price reduction, while grades below 44%, including SMGR and fines, will be lowered by 1% m-o-m. Factors impacting MOIL’s price revision Imported ore prices drop m-o-m: Monthly average prices of South African manganese ore (Mn37%) […]
Chinese steel exports hit 8-yr high in Sep’24;may end 2024 with over 20% growth
China’s steel exports hit a milestone in September 2024, rising to an eight-year high in a single month. Volumes, rose y-o-y a significant 26% to 10.15 million tonnes (mnt) against 8 mnt in September 2023 and m-o-m, by 7% against 9.50 mnt in August 2024. Over January-September 2024 (9MCY’24) exports recorded a growth of 20% […]
Europe: EC starts registering HRC imports from 4 countries for AD probe
Mysteel: The European Commission (EC) has begun registering the import volumes of certain hot-rolled flat steel products from Egypt, India, Japan and Vietnam, which are under its ongoing anti-dumping (AD) investigations, Mysteel Global learnt from the EU’s Official Journal published on 25 October. This import registration, which will last nine months, allows for retroactive collection of […]
South Asia: Imported ferrous scrap market remains largely stable d-o-d
The South Asian ferrous scrap market held steady d-o-d despite Indian buyers remaining inactive due to the Dhanteras holiday. Pakistani buyers took a cautious approach amid a cooling domestic steel market and the arrival of earlier booked scrap at competitive rates. Meanwhile, Bangladeshi buyers stayed on the sidelines, affected by halted construction activities and a […]
India: Thermal coal port stocks edge down in week 43, 2024
Thermal coal or non-coking coal stocks at Indian ports decreased marginally by 2.3% to 12.46 million tonnes (mnt) in week 43 from 12.75 mnt in week 42, according to BigMint’s data. Company-wise break-up Port-wise break-up Market overview: Portside prices of South African thermal coal in India remained stable last week, with RB2 (5500 GAR) at INR […]
Pakistan: Imported ferrous scrap prices fall $10/t; weak rebar sales dim market outlook
Imported ferrous scrap offers to Pakistan softened by $10/tonne (t) this week amid limited demand, with BigMint’s weekly assessment of European shredded pricing it at $390/t CFR Qasim, down from $400/t CFR a week ago. As per market insiders, Pakistani buyers have become more cautious as previously contracted materials are now available at more competitive […]
India: PELLEX falls INR 500/t ($6/t) as producers slash offers
PELLEX falls prices in Raipur fell this week, as local suppliers and those in Odisha reduced their offers. However, the decline in prices failed to elicit any active response from buyers. Purchasing activity has largely stalled due to the ongoing festive season and weak market sentiment in the sponge iron and semi-finished steel segments. BigMint’s […]