BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, dropped by INR 200/tonne (t) d-o-d to INR 36,200/t DAP on 17 February 2025. Additionally, the decent availability of domestic scrap, combined with limited demand for steel and production cuts at mills, led to a w-o-w decrease of INR 500-600/t in scrap prices in Mandi […]
CBC: Chinese silico manganese (Mn: 65%, Si: 17%) prices declined by INR 350/t ($48/t) to RMB 6,080-6,480/t ($838-$893/t) exw, including taxes. The silico manganese market in China is characterised by cautious sentiment, with key factors influencing both the raw material side and demand outlook. Raw material stable but market in wait-and-watch mode: The manganese ore market remained […]
India’s induction furnace (IF) steel prices declined d-o-d on 17 February 2025. Across markets, mills reduced their offers by INR 100-400/tonne (t) compared to the previous trading session. Sponge iron prices dropped by INR 150-400/t d-o-d, with the steepest fall of INR 400/t seen in the Raigarh region. Billet tags dropped in the range of […]
The Vietnamese imported scrap price from the US saw a $5/tonne (t) increase last week, although demand remained weak due to the slow recovery of construction activity after the holidays. Japanese tender results had little impact on market sentiment, as Vietnam’s domestic scrap prices strengthened, with some mills raising purchase prices, a Vietnam-based mill source […]
India’s chrome ore dispatches declined by 4% m-o-m to 192,011 t in December 2024, compared to 200,556 t in November. The drop was attributed to weak demand in the ferro chrome sector, with prices falling by INR 3,894/t ($45/t) exw-Jajpur during the month. Key factors affecting this decline were lower bids at OMC’s and FACOR’s […]
Auctions held by CIL subsidiary Eastern Coalfields Limited (ECL) on 22, 24 and 29 January and 4, 5, and 6 February 2025, reflected significant shifts in coal sales trends, marking distinct bidding behaviours. The total sales volume across these six auctions reached 288,050 t, indicating evolving buyer preferences and varied bid prices. Sales trends: The […]
Mysteel Global: The total stocks of metallurgical coke held by the 230 Chinese independent coke makers that Mysteel regularly tracks climbed further during the week to February 13 to top 1 million tonnes, rising by another 22,600 tonnes or 2.3% on week and touching a new high since mid-May 2023, the latest survey results show. Survey […]
Indian manganese ore producers have raised prices for February 2025 deliveries, prompted by MOIL’s recent hike. Effective 1 February 2025, MOIL raised offers for grades above 44% by 3.5% and below 44% by 8.2% m-o-m, BigMint learnt from sources. Meanwhile, tags of SMGR (Mn 30%, Mn 25%, and Mn 20%) and fines grades were raised […]
BigMint’s Odisha iron ore fines (Fe 62%) index inched up by INR 50/t ($0.5/t) w-o-w to INR 4,850/t ($56/t) ex-mines on 15 February 2025. Daily assessed BigMint’s billet index increased notionally by INR 50/tonne (t) d-o-d to INR 39,350/t exw-Raipur on 15 February. The following sheet summarises confirmed trades/offers of iron and steel products collected […]
In a bid to enhance product quality and protect consumer safety, the Indian government has imposed mandatory quality control orders (QCO) for stainless steel seamless pipes and tubes. Effective from 1 August, 2025, the mandatory requirement for stainless steel seamless pipes and welded pipes, as per the Indian Standards (IS) 17875:2022 and IS 17876:2022, will […]