South Asia’s imported scrap market remained mixed, with buyers in India staying largely inactive due to high offers, while Pakistan saw moderate restocking ahead of Ramadan. In Bangladesh, weak steel demand and sluggish construction activity kept purchases limited despite some buying interest. Meanwhile, Turkiye’s market remained steady, as mills resisted further price hikes, even as […]
Ferro Alloy
UAE: Domestic ferrous scrap index gains $4/t w-o-w on improved buying before Ramadan
The UAE’s domestic ferrous scrap index increased slightly by AED 16/tonne (t) ($4/t) w-o-w amid improved buying activity before the Ramadan holidays. BigMint’s benchmark assessment for HMS (80:20) processed scrap was at AED 1,217/t ($331/t), reflecting an AED 16/t ($4/t) increase compared to last week’s AED 1,201/t ($327/t). Domestic demand for ferrous scrap in the […]
Weekly round-up: Global ferrous scrap offers rise w-o-w, but mills in Turkiye, India, and Bangladesh resist
Global ferrous scrap offers witnessed moderate gains, with Turkiye’s HMS (80:20)-US, CFR rising 2% w-o-w to $360/t amid firm supplier pricing. Pakistan and Bangladesh saw a 1-2% price increase, though demand remained sluggish. India’s import interest stayed low due to cost concerns. Japan’s H2 prices softened, while US scrap offers climbed on deep-sea demand and […]
China: Oversupply to continue weighing on ferro chrome market in 2025
Mysteel Global: China’s ferro chrome (FeCr) market faced persistent downward pressure throughout 2024, a consequence of the significant oversupply caused by surging production and tepid demand from stainless steel manufacturers. This oversupply trend is likely to extend into 2025, Mysteel warned in its annual ferro chrome market report published on 9 January, even as production growth […]
China: Ferro chrome prices edge down by $21/t w-o-w on limited market activity
CBC: The ferro chrome market in China remained subdued, with prices edging down by $21/t over the week. Medium- and high-carbon ferro chrome prices dropped slightly, while the micro-carbon grade remained largely stable. Reduced steel mill operations and lower-than-expected production schedules contributed to the lacklustre market, leading to weak price expectations. Prices High-carbon ferro chrome: Prices declined […]
South Asia: Imported ferrous scrap offers rise on restocking demand
The South Asian imported ferrous scrap markets were relatively active today, with slight upward movement and a general bullish sentiment prior to the year-end closure and restocking activities. In India, EU-origin HMS (80:20) scrap was offered at $360-365/t, but buying activity remained cautious. Pakistan saw a slight increase, with UK shredded scrap priced at $390/t. […]
Weekly round-up: Global ferrous scrap offers edge up w-o-w despite limited buying across markets
This week, global ferrous scrap markets saw mixed trends. Prices in Turkiye and Pakistan showed modest recovery, driven by restocking and pre-holiday demand, while India saw slight increases despite weak domestic steel demand. Vietnam, the UAE, and South Korea experienced price declines due to sluggish demand and weak market sentiment. US export prices rose, supported […]
Weekly round-up: Global ferrous scrap market weakens amid soft steel demand
This week, global ferrous scrap markets faced continued softness, driven by weak steel demand, high inventories, and cautious sentiment. Turkiye, India, and Pakistan saw price declines, while Bangladesh and Vietnam experienced limited activity. Issues like low rebar sales, financial challenges, and uncertainty over import duties weighed on the market, keeping trade minimal across key regions. […]
Europe’s ferro chrome consumption set to rise 10% by 2026, say experts at ICDA’s Chromium 2024
The global ferro chrome market will see steady demand, especially in Europe, where consumption is projected to rise 10% by 2026, said industry experts at Chromium 2024, a two-day conference held by the International Chromium Development Association (ICDA) in Cape Town, South Africa, on 6-7 November 2024. BigMint shares key insights from the summit below. […]
US: Ferrous scrap export index falls $6/t w-o-w on dull inquiries from key buyers
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 […]