Mysteel Global: The Chinese metallurgical coke market showed signs of weakening on 24 December, as downside pressures came from stable coke supply, steelmakers’ waning demand for the material, and declines in coal prices. “Under these circumstances, China’s coke market is expected to lose ground in the near term, with domestic steel mills likely to require another […]
Morning Brief: Global crude steel production in January-November 2024 (11MCY’24) reached 1,694 mnt (or nearly 1.7 bnt), down 1.4% y-o-y as per latest data published by the World Steel Association (WSA). The 71 countries that report to the WSA account for around 98% of total global crude steel production. Crude steel output in November stood at […]
BigMint’s billet index inched up by INR 50/tonne (t) d-o-d to INR 39,300/t exw-Raipur on 23 December 2024. The index improved slightly today, as higher offers were floated, supported by a lift in buying activity. This resulted in moderate transaction volumes. Transactions of about 1,500 t were recorded today. In the finished steel segment, rebar […]
On 18 December 2024, Sandur Manganese & Iron Ore Ltd auctioned 57,456 tonnes (t) of manganese ore (Mn: 20-35%, -10-100mm). Approximately 4,032 t were sold at prices ranging from INR 2,500-12,400/t, while the remaining 4,032 t remained unsold, as reported by BigMint. Sources indicated that only around 7% of the total offered quantity was booked. […]
BigMint’s billet index fell slightly by INR 50/t today, settling at INR 39,000/tonne (t) exw-Raipur on 17 December 2024. The index remained range-bound today, exhibiting slight dips towards the end of the trading session. Moderate buying activity was recorded in the semi-finished and finished steel segments, particularly in the latter half of the day. This […]
The Southeast Asian billet market exhibited divergent dynamics influenced by China’s economic developments and showed faint signs of improvement partially due to China’s market optimism. Despite local gains, Chinese mills hold export prices, prioritising domestic finished steel shipments over exports of semi-finished products. Meanwhile, Turkish demand for restocking increased, and sellers vented strong price expectations. […]
Global manganese ore prices have experienced a slight uptick, driven by increasing operational costs. Despite modest demand for manganese alloys, producers have adjusted their pricing to account for higher input costs and other operational expenses. Market overview Global manganese ore prices rise: The global manganese ore market is witnessing a shift in sentiment, with producers increasing […]
Feng Hsin Steel, Taiwan’s largest rebar producer headquartered in Taichung in central Taiwan, has decided to roll over its rebar list prices and buying prices of local scrap for transactions over December 9-13 to monitor market changes, according to a company official. For business discussions till this Friday, the mini-mill continues to offer its 13mm […]
Morning Brief: Signalling another dismal week, the India Steel Composite Index remained stuck at 130.1 points on 6 December 2024, unchanged as against the previous assessment on 29 November. The index had earlier straddled these levels in September 2024, ahead of the festive season-led restocking rush. The sub-indices exhibited mixed trends w-o-w. Longs recovered by a […]
Indian flat producers rolled over their list prices of coated products for December 2024 against the previous month-end levels. Also, mills extended price support of INR 800-1,250/t ($9-15/t) towards the end of November. Subsequent to the announcement, the estimated list price of galvanised plain (GP, 0.8mm 80gsm) coil stands at INR 59,000-59,250/t ($697-700/t) ex-Mumbai and […]