Iran’s finished steel imports in the first six months (21 March-20 September, 2024) of the current Persian year stood at 0.76 million tonnes (mnt), a marginal drop of 2% compared to the same period of last year, according to data from the Iranian Steel Producers Association (ISPA). Imports of long products were recorded at 52,000 […]
Imported aluminium scrap prices in India remained rangebound with slight downfall in prices w-o-w. Although buying interest was weak, bid-offer disparity was seen despite rangebound levels in LME aluminium prices. BigMint’s benchmark assessment for tense scrap originating from the UAE was at $1,770/t, slightly lower w-o-w, and for zorba 95/5 from the UK at $2,070/t, both […]
Base metals prices on the London Metal Exchange (LME) threw up mixed trends, with lead witnessing the highest increase of 2.45%. Meanwhile, stocks at LME-registered warehouses showed mixed movements with zinc gaining 1.54%. COMEX market update Copper prices on the COMEX market remained stable settling at $9,603/tonne (t) compared to the previous close. Indian market […]
At the close of trading, base metals prices on the London Metal Exchange (LME) showed negative trends, with lead recording the sharpest drop of 0.92% w-o-w. Meanwhile, LME warehouse stocks exhibited mixed trends, with nickel increasing by 11.27% w-o-w. On the LME, three-month aluminium futures decreased by 0.46% w-o-w to $2,600/tonne (t), and nickel prices […]
Indonesian portside thermal coal prices remain stable amid Diwali holidays Indonesian portside thermal coal prices were unchanged w-o-w. Participants were absent from the market this week, owing to Diwali, a key Indian festival. Prices of 3400 GAR at Navlakhi remained stable at INR 4,700/t. At Kandla and Vizag, 4200 GAR stood unchanged at INR 5,950/t […]
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 […]
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 […]
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’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%) […]
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% […]