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 […]
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 […]
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 […]
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 […]
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 […]
Hot-rolled coil (HRC) prices across India remained stable w-o-w at INR 47,400-49,500/tonne (t). Conversely, cold-rolled coil (CRC) prices witnessed mixed trends w-o-w, settling at INR 53,000-55,700/t ($617-671/t) across markets. BigMint’s benchmark assessment (bi-weekly) for HRCs (IS2062, Gr E250, 2.5-8 mm/CTL), however, remained stable w-o-w at INR 48,500/t ($549/t) on 15 February 2025. However, CRC (IS513, Gr […]
Global manganese ore prices have seen a slight increase this week, reaching a four-month high last seen since October 2024. This uptick is primarily attributed to declining port inventories and limited supplies from miners, which have tightened the market. Market overview Limited manganese ore supply hurts smelters: Global manganese ore suppliers are restricting supply to Indian […]