The Chinese steel market faced significant challenges this week, evidenced by recent price declines on the Shanghai Futures Exchange for hot-rolled coils (HRCs) and billets. This downturn was driven by escalating international trade barriers, including tightening EU import quotas in April, and India’s impending 12% safeguard duty, which are expected to reduce export opportunities. Simultaneously, […]
The domestic steel market saw a positive trend in prices during week 13 (17 March-22 March 2025), as semi-finished prices moved up by INR 600-1,500/tonne (t). Finished steel demand improved, which influenced prices to a certain degree in the semis and raw materials segments. Iron ore, pellet Coal Ferrous scrap Ferro alloys Semi-finished Finished long […]
Morning Brief: BigMint’s India steel composite index, a barometer of the domestic market, witnessed an uptick of 2% w-o-w to reach 135 points on 21 March, 2025 following the much-awaited announcement of a 12% provisional safeguard duty recommendation by the Director General of Trade Remedies (DGTR) on imports of alloy and non-alloy flat steel products. The […]
Mysteel: China’s demand for construction steel is expected to recover further in March thanks to the pleasant weather and the improvement in the financial situation of construction enterprises, according to Mysteel’s latest monthly survey released on March 11. The prediction was chiefly based on actual volumes of construction steel bought by domestic end-users in February and […]
Morning Brief: China’s steel industry emissions increased by over 4% in 2024, according to data by the China Iron & Steel Association (CISA). Data for direct CO2 emissions were not available, although emissions volumes of other GHGs such as sulphur dioxide, nitrous oxide, as well as particulate matter were declared. In CY’24, Chinese crude steel production […]
The European Commission’s steel import policy will see significant adjustments from 1 April 2025. Suppliers of hot-dip galvanised (HDG) and cold-rolled coils (CRC) will face new limits within the “other countries” quota, varying between 13-25% based on the product. Additionally, the quarterly duty-free hot-rolled coil (HRC) quota will decrease by 12.1% to 1.9 million tonnes […]
Morning Brief: India’s stainless steel (SS) scrap imports saw a 5% decline in the April-January period of the current fiscal (10MFY’25) settling at 1.09 mnt against 1.15 mnt seen in the same period last year. Domestic stainless steel output saw an increase of 15% in 10MFY’25. While an increase in production would typically lead to higher […]
Mysteel: China will continue implementing crude steel output control and promoting industry restructuring this year to advance the high-quality development of the steel sector, Mysteel Global learnt from a government report on the draft plan for national economic and social development in 2025, released on Wednesday during the highly anticipated Two Sessions meetings. China’s “Two Sessions” […]
Tokyo Steel, Japan’s leading electric arc furnace (EAF) steel manufacturer, has kept tags of hot-rolled coils (HRCs) (1.7-22 mm) flat for March 2025 sales, the fifth consecutive month of price stability. Additionally, the company rolled over prices of rebars and H-beams. Market highlights 1. Kanto scrap export tender sees drop in bids: The Kanto Iron and […]
Mysteel Global: Below is the brief near-term outlook for five key steel products Mysteel shares on a weekly basis, drawing upon the results of related surveys and communication with Chinese market participants. Rebar, wire rod: Prices of these two long steel products will be under pressure from the supply-demand imbalance over 17-21 February. However, demand among building […]