Morning Brief: India’s steel exports (excluding stainless steel) climbed up by 12% to 634,061 tonnes (t) in January 2025 compared to 565,292 t in December 2024, according to provisional data maintained with BigMint. Volumes stood at a nine-month high, with similar levels last seen in April 2024. The uptick was largely due to a 52% m-o-m […]
In a bid to enhance product quality and protect consumer safety, the Indian government has imposed mandatory quality control orders (QCO) for stainless steel seamless pipes and tubes. Effective from 1 August, 2025, the mandatory requirement for stainless steel seamless pipes and welded pipes, as per the Indian Standards (IS) 17875:2022 and IS 17876:2022, will […]
Morning Brief: BigMint’s Steel Composite Index remained range-bound against the previous week, gaining by a mere 0.3% to settle at 129.7 points on 14 February 2025. The index continued to make slow recovery, primarily on the back of a buoyant induction furnace (IF) rebar market. Accordingly, among the sub-indices, steel longs notched a 0.6% uptick, fuelled […]
Trade-level coated flat steel prices rose this week after the mills announced a hike in their tags for February 2025 sales. The effective list price of galvanised plain (GP, 0.8mm, 120gsm, IS277) coils stood at INR 59,250-60,000/tonne ($/t) ex-Mumbai, while pre-painted galvanised iron (PPGI, 0.5mm, 90gsm, IS14246) coils were at INR 69,250-70,000/t ($/t) ex-Mumbai for […]
India’s stainless steel finished flats prices remained range-bound while finished longs dropped w-o-w amid weak demand in the finished segment and declining LME nickel prices. Although market participants had anticipated an improvement following the Budget, this has failed to materialise. Budget FY’26: Tariff on stainless steel flat products revised, effective duty unchanged In a move […]
Morning Brief: The New Year started on a mellow note for the Indian market, with BigMint’s Steel Composite Index crawling up by 0.3% w-o-w to settle at 129.0 points on 3 January 2025. Interestingly, all sub-indices either recorded increases or were stable w-o-w, in what may be early signs of a gradual improvement in trade momentum. […]
Morning Brief: China’s steel exports crossed the 100-million tonne (mnt) threshold in January-November, 2024 (11MCY’24), clocking 101.30 mnt, as per data recorded by China’s Customs and maintained with BigMint. The volume also surpassed 2023’s 90-odd mnt. The exports are the second-highest ever, playing catch-up with the peak of 115 mnt recorded in 2015. However, on a […]
Japan Metal Daily: Several South African chromium producers have agreed with Japan’s Nippon Steel Stainless Steel Corporation to reduce the price of ferro chrome, a key raw material for stainless and special steel, by around 7% for January-March 2025. Similar moves are expected from other companies in the industry as well. This marks the second straight […]
Morning Brief: Extending the trend seen in November, global steel and raw material prices have shown a m-o-m negative trend in December 2024 so far. Except for iron ore, which showed a slight uptick. The winter chill has further turned steel demand cold in the western geographies as well as in China. BigMint goes behind the […]
Mysteel Global: The European Union (EU) has announced a review of its safeguard measures on certain steel product imports to reassess the allocation and management of tariff-rate quotas, Mysteel Global learned from a legal document published in the Official Journal of the European Union on 17 December. The EU’s current safeguard measures, introduced in July 2018 […]