BigMint’s India hot-rolled coil HRC export index (for the Middle East and Vietnam) resumed after six months amid recent deals. Current prices are at $535/t FOB east coast India. An Indian steel major booked 20,000-25,000 tonnes (t) of HRCs for the Middle East (ME). However, European demand remained subdued due to sluggish market sentiments and […]
Mysteel: Chinese buyers showed increased interest in Indonesian thermal coal with low calorific value (CV) on 25 October, considering its significant price advantages over comparable domestic cargoes, sources noted. On 25 October, Mysteel assessed Indonesian 3,800 kcal/kg NAR thermal coal prices at $54/t FOB Kalimantan, unchanged since 15 October. This can be translated into RMB 492.4/t […]
The iron ore market in Odisha saw restricted buying interest this week with miners raising prices following OMC’s auction. Trading volumes remained subdued due to weak demand from sponge iron makers and a downturn in the export market. BigMint’s Odisha iron ore fines (Fe 62%) index remained stable w-o-w to INR 5,600/t ($67/t) ex-mines on […]
Imported manganese ore prices to India remained relatively stable this week, with major manganese ore producers adjusting their output to tackle weak market sentiments. Price trends Market overview Smelters maintain cautious approach: Indian smelters exercised caution regarding manganese ore procurement, opting to rely on existing inventories to meet their immediate operational requirements. This measured approach, combined […]
Japanese H2 scrap export offers climbed w-o-w, driven by recent deals concluded for Taiwan, where mills favoured competitively priced Japanese scrap over US bulk cargos. Additionally, domestic H2 collection prices in Japan rose, adding upward pressure on export offers. Limited deep-sea cargo interest from Vietnam and South Korea further restricted buyer options, lending additional support […]
The US ferrous scrap export index has experienced a w-o-w decline, primarily due to weakened demand from Turkiye, which is currently focusing on pushing the imported price down amid cheap availability of European material. Additionally, the falling EU exchange rate is likely to support European suppliers in lowering their offers for Turkiye further impacting the […]
South Asia’s imported ferrous scrap markets remained under pressure today, reflecting sluggish demand across India, Pakistan, and Bangladesh amid weak domestic steel sales and cautious buyer sentiment. Prices dropped d-o-d across South Asia. In India, a mismatch between buyer and seller expectations, coupled with a slowdown in steel activity ahead of key festivals, kept the […]
UAE’s domestic ferrous scrap index witnessed a sharp decline of $8/tonne (AED 30/t) w-o-w, primarily due to weaker domestic purchase activities. Market sources said that trading activity was slow this week, with only selective deals by major mills. A UAE-based supplier said, “Current prices stand at AED 1,250/t ($340/t) for processed HMS and AED 1,350/t($368/t) for shredded. The recent […]
Morning Brief: Global iron ore imports recorded a nominal growth of around 5% to 1,201 million tonne (mnt) in the January-September, 2024 (9MCY’24) compared to 1,149 mnt seen in the same period in 2023. Australia was the largest exporter with 646 mnt, up 2% y-o-y followed by Brazil with 291 mnt, a rise of 6%. South […]
Mysteel: Japan has responded angrily to the decision of Turkiye’s Ministry of Trade earlier this month to impose anti-dumping (AD) duties on imports of hot-rolled coil (HRC) originating from several countries, including Japan, describing the decision as inappropriate and very regrettable. Turkiye’s trade ministry announced on 11 October that HRC imports from China, India, Russia, and […]