This week, imported manganese ore prices experienced a slight decline, primarily driven by reduced export inquiries and subdued domestic demand. Market overview Slump in Mn alloys demand stalls imported ore purchases: Imported manganese ore prices declined slightly this week due to reduced inquiries and lower purchase volumes, influenced by a sluggish export market for Indian manganese alloys. […]
BigMint’s weekly iron ore concentrate index was assessed at around INR 4,700/tonne (t) ($54/t) exw-Jabalpur, stable against the previous assessment on 8 March 2025. Sponge iron prices in the country fell by INR 50-200/tonne (t) d-o-d today in major locations.PDRI prices were assessed at INR 23,900-27,000/t, while CDRI rates hovered at INR 26,550-31,000/t. BigMint’s billet […]
Domestic prices of 60-14 grade silico manganese edged down w-o-w by INR 550/tonne (t) ($6/t) to INR 71,600-73,100/t ($821-838/t) exw on 11 March 2025, as per BigMint’s assessment. Prices decreased due to the ongoing supply-demand imbalance in the market, coupled with persistent decline in steel demand. These factors have contributed to a reduction in market […]
On 12 March 2025, Sandur Manganese and Iron Ore (SMIORE) held an auction for 22,176 tonnes of manganese ore (Mn: 18-35%, -10-100 mm). Of the total quantity offered, 6,552 t (Mn: 20-32%) were successfully sold, with prices ranging from INR 2,520-11,370/t. Approximately 30% of the offered quantity was sold, leaving around 15,624 t unsold. Buyers […]
Pellet prices in Raipur remained largely stable this week, with buyers staying cautious and refraining from bulk purchases. Market participants put up limited inquiries, as most buyers adopted a wait-and-watch approach. Pellet producers, on the other hand, kept their offers unchanged, reflecting the overall subdued market sentiment. BigMint’s bi-weekly domestic pellet (Fe63%) index remained stable […]
BigMint’s India hot-rolled coil (HRC, SAE1006) export index (for the Middle East and Vietnam) remained stable w-o-w amid recent export deals from India to the Middle East (ME). Current prices are at $495/t FOB main port India. Vietnamese buyers are prioritising domestic HRC despite hike in mill prices. The European market is facing sluggish conditions […]
BigMint’s bi-weekly domestic pellet (Fe63%) index remained stable at INR 9,850/t ($113/t) DAP Raipur on 11 March 2025 compared to the previous assessment on 7 March. In this publishing window, around 35,000 t pellets (Fe62/63%) deals were concluded by Raipur based steelmaker at INR 9,600-9,800/t exw Raipur. Around 10,000 t higher grade pellet (Fe65%) also […]
BigMint’s billet index remained stable today at INR 40,050/t exw-Raipur on 7 March 2025. The billet index remained range-bound throughout the day, closing on a firm note, unchanged from yesterday’s closing. Modest buying activity was observed in the semi-finished and finished steel segments, though market participants faced volatility in spot offers on a d-o-d basis. […]
India’s induction furnace (IF) steel prices increased d-o-d on 7 March 2025. Across markets, mills raised their offers by INR 50-200/tonne (t) compared to the previous trading session. Sponge iron offers rose INR 50-200/t d-o-d, with the sharpest hike of INR 200/t seen in the Raipur and Ramgarh markets. Billet tags moved up by INR […]
Mysteel Global: China’s hot-rolled coil (HRC) market is expected to find some balance in March, supported by recovering domestic demand and proactive production cuts, despite headwinds from a worsening trade environment globally caused by rising steel protectionism, Mysteel’s latest monthly report suggests. In March, China’s spot prices of Q235B 4.75 mm HRCs in Shanghai under Mysteel’s […]