Mysteel Global: Chinese blast-furnace (BF) steel mills managed to earn some profits on their steel sales in October, though their production costs moved higher with the climb in prices of major steelmaking raw materials, according to Mysteel’s latest monthly survey of the 91 BF mills it tracks. Last month, although the sampled steelmakers’ average profit on […]
The Chinese steel market faced a significant decline, following the downward trajectory of Shanghai Futures Exchange (SHFE) prices. Domestic steel products, including billets, hot-rolled coils (HRC), and rebars, witnessed w-o-w price drops. Additionally, prices of key raw materials like iron ore and coking coal, also decreased. The average daily crude steel output of CISA-affiliated mills […]
China’s crude steel production in October 2024 stood at 81.88 million tonnes (mnt), reflecting a 2.9% rise compared to 79.09 mnt in October 2023, as per data from the National Bureau of Statistics (NBS). Moreover, the same increased by 6% m-o-m against 77.07 mnt a month ago. However, crude steel production in January-October 2024 edged […]
Mysteel Global: China’s crude stainless steel production rebounded in October, showing a 0.2% increase compared to September, reaching 3.29 million tonnes (mnt). This recovery follows a dip in output the previous month, driven largely by higher production of 300- and 400-series stainless steels, which rose by 0.7% and 1.3%, respectively. In contrast, 200-series stainless output dropped […]
Indian primary mills have raised rebar list prices by up to INR 1,000/tonne (t) ($12/t) for early-November 2024 deliveries, sources informed BigMint. Post revision, list prices are hovering in the range of INR 54,500-55,500/t ($646-658/t) on landed basis. It should be noted that mills had announced interim price hikes in the previous month. In the […]
Intersteelbd Article Credit: Bigmint
Iran’s finished steel imports in the first six months (21 March-20 September, 2024) of the current Persian year stood at 0.76 million tonnes (mnt), a marginal drop of 2% compared to the same period of last year, according to data from the Iranian Steel Producers Association (ISPA). Imports of long products were recorded at 52,000 […]
Mysteel: Japan has responded angrily to the decision of Turkiye’s Ministry of Trade earlier this month to impose anti-dumping (AD) duties on imports of hot-rolled coil (HRC) originating from several countries, including Japan, describing the decision as inappropriate and very regrettable. Turkiye’s trade ministry announced on 11 October that HRC imports from China, India, Russia, and […]
Pellet prices in central and eastern India surged following the recent OMC auction, where m-o-m premiums exceeded INR 1,000/tonne ($12/t) — significantly increasing manufacturing costs of the same. In response, major pellet plants in Odisha raised their offers by INR 500-700/t ($6-9/t), while Raipur witnessed a similar increase of INR 500/t ($6/t). India: PELLEX rises […]
SteelDaily: This week, the combined ferrous scrap inventory of eight major South Korean steel mills witnessed a slight upswing as prices fell and steelmakers reduced their production. Stocks increased by 2.5% to 773,000 tonnes (t) this week as compared to 754,000 t in the previous one. Notably, although the southern and central regions experienced an […]