India’s major hot-rolled (HR) plate producers raised their list prices by around INR 1,000-1,300/t from the end of December 2024 for January 2025 sales. Following this increase, list prices of HR plates (IS 2062, 5-10 mm) are estimated to range at INR 50,500-54,000/t (exy-Mumbai). Prices are exclusive of an additional 18% GST. HR plate prices […]
BigMint’s bi-weekly domestic pellet (Fe63%) index dropped by INR 100/tonne ($1/t) to INR 9,450/t ($110/t) DAP Raipur on 7 January 2025 compared to the previous assessment on 3 January. BigMint’s daily assessed billet index fell slightly by INR 50/t d-o-d to INR 39,250/t exw-Raipur on 7 January. The daily assessed Indian sponge iron prices decreased […]
Mysteel: Production among Chinese blast-furnace (BF) steel producers continued to decline steadily, driven by increasing maintenance stoppages amid the approaching Chinese New Year, Mysteel’s latest survey showed. The average capacity utilisation rate of the 247 BF steelmakers under Mysteel’s tracking fell for the seventh consecutive week by another 1 percentage point w-o-w to a three-month low […]
Mysteel Global: China’s ferro silicon (FeSi) market was dragged down by subdued demand from end-users throughout 2024, and market watchers remain cautious about demand growth in 2025, anticipating lower consumption of Chinese FeSi in both domestic and overseas markets. The shrinking of demand for the ferro alloy was most evident in the domestic carbon steel market […]
Imported manganese ore prices have remained relatively stable this week despite a recent increase in demand. Market overview Smelters tread carefully amid market volatility: Indian smelters are adopting a cautious approach to manganese ore procurement, prioritising inventory management in the face of an uncertain market outlook. With sufficient inventory levels to meet current demand, smelters […]
ERW Patra pipe prices (41-60 OD) showed mixed trends w-o-w. Prices increased by around INR 300/tonne (t) w-o-w in Raipur as on 3 January 2025. The increase in raw material prices led to an increase in pipe prices during the week. However, in Mandi Gobindgarh, prices dropped back to the previous week’s levels after increasing […]
Indian hot-rolled coil (HRC) export offers to the Middle East (ME) witnessed a w-o-w decline as regional trading activity ground to a near halt ahead of the upcoming New Year holidays, according to sources based in the ME. The significant slowdown in trading activity was largely attributed to buyers adopting a cautious approach, opting to […]
MOIL, India’s state-owned mining company, announced a slight increase in offers for manganese ore, effective from January 2025. Mn grades above 44% have witnessed a marginal hike of 1% in offers m-o-m, while lumps below 44% saw an uptick by 5% from last month’s offer, BigMint learnt from sources. Meanwhile, all SMGR (Mn-30%, Mn-25% & […]
Pellet trade volumes in the Indian domestic market rose 50% m-o-m to 982,000 tonnes (t) in November 2024 from 655,000 tonnes (t) in October, according to data maintained by BigMint. This rise was mainly fuelled by restocking activities in the first half of the month and lower bids at the auction from Odisha Mining Corporation […]
Steel billet prices in the global market remained largely stable this week. Approaching New year holidays have kept market participants away from the market, resulting in weakened sentiments amid absence of trade activities. However, in the Middle East some trades were recorded at lower levels. Also, an export tender conclusion is awaited. However, Turkish imported […]