The global billet market remained quiet this week amid weak buying interest and lack of tenders. Market participants were cautious due to higher prices of semi-finished steel and weak sentiments in the long steel sector. Turkish imported bulk scrap prices remained largely stable w-o-w after a sharp decline last week. This was due to a […]
Hot-rolled coil (HRC) prices fell by up to INR 500/tonne (t) ($6/t) this week to INR 48,300-50,000/t ($575-595/t), amid subdued market activity, characterised by limited demand and need-based buying. Conversely, cold-rolled coil (CRC) prices exhibited stability, maintaining a range of INR 55,700 to 59,100/t ($663-703/t) across various regions. BigMint’s benchmark assessment (bi-weekly) for HRCs (IS2062, […]
Horizon Insights: Chinese officials, at a meeting on October 17th, announced measures for optimising inventory and controlling supply in China’s struggling real estate market. Key points included granting local governments more autonomy to adjust or lift restrictions, such as removing purchase, sales, and price limits. Additionally, the meeting proposed reducing housing provident fund loan rates by […]
Indian DRI, billet, and rebar update a downward trend across commodities today. Mills’ offers dropped by up to INR 1,000/tonne (t) compared to the previous trading session. Sponge iron prices decreased in the range of INR 100-800/t, with the sharpest fall seen in the Durgapur market. Billet offers fell by INR 400-1,000/t. The steepest drop […]
Mysteel: China’s economy require strong policy support in terms of short- and medium-term macro-economic adjustments, said Pang Gongsheng, Governor of the People’s Bank of China (PBOC), at a financial industry forum last Friday. “The PBOC had earlier conducted in-depth research and prepared policy responses in advance, and the central government decisively introduced a package of stimulus […]
Mysteel Global: China Resource Recycling Group (CRRG), a new state-owned enterprise tasked with building a national platform for resource recycling and reuse, was officially established on October 18 in North China’s Tianjin, according to state media Xinhua News Agency. China launches new SOE to lead national recycling efforts. The new company, with a registered capital of […]
PELLEX falls INR 100/t ($1/t) amid limited trade Pellet offers from Raipur-based producers dropped after the Dussehra holidays owing to lack of trades. Meanwhile, prices in Raipur remained under pressure as no trade was reported so far this week. However, a major plant is under maintenance shutdown over the next few weeks. BigMint’s bi-weekly domestic […]