Shredded scrap offers from Europe to Pakistan dropped by $3-5/t w-o-w to $380-385/t CFR amid sluggish demand, while HMS stood at $360-365/t and fabrication scrap at $385-388/t. With Ramadan underway, market activity is expected to slow briefly before picking up for post-Eid arrivals. BigMint’s assessment for European/UK-origin shredded stood at $380/tonne (t) CFR Qasim, down […]
Indian sponge iron prices showed mixed trends today, with tags rising by INR 100-350/tonne (t) d-o-d in certain markets but declining by INR 100-150/t in other regions. The drop in sponge iron prices was driven by slow demand. Buyers were unwilling to procure material and preferred to wait for further market corrections. However, despite sluggish […]
South Asia’s ship-breaking markets faced challenges in week 8 of CY’25. Alang’s market weakened due to concerns over the possibility of increased Chinese steel shipments and declining prices. Pakistan’s Gadani cluster showed limited activity, while Bangladesh’s Chattogram struggled with political and economic uncertainty, despite busy anchorages and declining bids. Alang’s market faces uncertainties amid US […]
The Ministry of Mines has proposed amendments to the Minerals (Other than Atomic and HydroCarbon Energy Minerals) Concession Rules, 2016 to boost the beneficiation of low-grade iron ore. The ministry has also proposed to rationalise the royalty rate of limestone, lime kankar, lime shell, marl, and dolomite. In a note inviting public comments, the ministry […]
Tokyo Steel, Japan’s leading electric arc furnace (EAF) steel manufacturer, has kept tags of hot-rolled coils (HRCs) (1.7-22 mm) flat for March 2025 sales, the fifth consecutive month of price stability. Additionally, the company rolled over prices of rebars and H-beams. Market highlights 1. Kanto scrap export tender sees drop in bids: The Kanto Iron and […]
Mysteel Global: Below is the brief near-term outlook for five key steel products Mysteel shares on a weekly basis, drawing upon the results of related surveys and communication with Chinese market participants. Rebar, wire rod: Prices of these two long steel products will be under pressure from the supply-demand imbalance over 17-21 February. However, demand among building […]
Morning Brief: India’s steel exports (excluding stainless steel) climbed up by 12% to 634,061 tonnes (t) in January 2025 compared to 565,292 t in December 2024, according to provisional data maintained with BigMint. Volumes stood at a nine-month high, with similar levels last seen in April 2024. The uptick was largely due to a 52% m-o-m […]
On 17 Feb 2025, BigMint’s India billet index experienced a dip of INR 250/tonne (t), settling at INR 39,100/t exw-Raipur. The decline was driven by moderate trade rates and buyers’ hesitance in opting for trades at the higher end of the price spectrum. Nominal trade volumes were observed in semi-finished and finished materials. In the […]
Sponge iron prices witnessed a steady decline today, dropping by INR 50-400/tonne (t) across locations amid selling pressure and weakening market sentiments. Buyers remained cautious due to the lacklustre demand for semi-finished and finished products, which led to a low level of purchasing activity. In central India, however, trade volumes stood steady as of due […]
South Asia’s imported ferrous scrap market remained sluggish as buyers across India, Pakistan, and Bangladesh showed limited interest amid weak steel demand, ample domestic availability, and currency fluctuations. Indian and Pakistani buyers resisted higher offers, while Bangladesh’s demand was moderate despite stalled construction activities. Offers for shredded from the UK/Europe edged down by $3/tonne (t) […]