Indian tier-1 mills raised rebar list prices by INR 500-1,000/tonne (t) ($6-12/t) for early-February 2025 compared to end-January 2025 levels, sources informed BigMint. Post revision, list prices hovered at around INR 52,000-53,000/t ($594-605/t) on a landed basis. It should also be noted that rebar inventories with mills declined by around 20% m-o-m in early-February 2025, […]
India’s induction furnace (IF) steel prices surged on 27 January 2025. Across markets, mills raised their offers by INR 100-700/tonne (t) compared to the previous trading session. Sponge iron prices rose by INR 200-600/t d-o-d, with the steepest increase seen in the Raipur market. Billets increased by INR 300-600/t d-o-d, with the highest rise of […]
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, climbed up by INR 500/tonne (t) d-o-d to INR 37,200/t DAP on 27 January 2025. In today’s trading session, the Mandi steel market experienced a positive shift, as buyers actively engaged in purchases. This led to an uptrend in both the semi-finished and finished steel […]
BigMint’s billet index increased by INR 600/tonne (t) d-o-d to INR 39,400/t exw-Raipur on 27 January 2025. The index experienced a significant increase today, driven by positive market sentiments and improved buying activity in both the semi-finished and finished steel segments. This momentum supported higher spot offers throughout the day. In Raipur, rebar prices surged […]
India’s sponge iron prices climbed up by INR 150-600/tonne (t) across regions. Procurement of sponge iron increased amid an improvement in buying activity in the semi-finished and finished steel segments. Sponge iron suppliers lifted offers amid higher demand for the material. PDRI prices stood at INR 23,600-26,100/t today, while CDRI tags were assessed at INR […]
The South Asian ferrous scrap markets were largely stable d-o-d, with limited activity across India, Pakistan, and Bangladesh. India witnessed some transactions, though weak demand and competitive domestic prices kept the market subdued. Additionally, Bangladesh and Pakistan saw no major price movements amid limited activity. Notably, UK-origin shredded was down by $2/tonne (t) in India […]
Morning Brief: India’s manganese ore imports rose a moderate 15% to 6.22 million tonnes (mnt) in calendar 2024 (CY’24) compared to 5.40 mnt recorded in 2023. On a m-o-m basis, volumes were up 21% to 0.51 in December 2024 mnt against 0.42 mnt in November. The lower grades saw the highest y-o-y increase. Those below 35% […]
Mysteel: Shagang Group (Shagang), China’s leading private steelmaker headquartered in Zhangjiagang in East China’s Jiangsu province, has cut its list prices of rebars, wire rods, and bar-in-coils by RMB 100/tonne (t) ($13.6/t) for sales during the middle ten days of January, Mysteel Global learnt. Shagang’s new pricing policy means the company has pared prices of its […]
Indian manganese ore producers raised their prices for January 2025 deliveries in response to MOIL’s recent increase in offers. For January 2025, MOIL lifted offers for Mn grades above 44% by a marginal 1% m-o-m, while lumps below 44% saw an uptick of 5% m-o-m, BigMint learnt from sources. Additionally, prices of all SMGR (Mn […]
Mysteel: China’s metallurgical coke prices were still weak on 9 January after slipping the previous day. The RMB 50-55/tonne (t) ($6.8-7.5/t) price cut has squeezed many coke producers’ margins, and some of them have started to further rein in production to avoid larger losses, according to market sources. Mysteel’s survey conducted among a sample of 30 […]