Iran’s semi-finished steel exports in the first eight months of the current Persian year (21 March 2024-20 November 2024) stood at 3.84 million tonnes (mnt), a decrease of 22% compared to the same period last year, according to data from Petrometals. However, exports of long products were recorded at 2.34 mnt, up 21% y-o-y, while […]
The Chinese steel market saw an uptickin prices this week, largely mirroring the rise in Shanghai Futures Exchange (SHFE) prices. Domestic steel product prices, including billet, hot-rolled coil (HRC), and rebar, saw w-o-w increases. Iron ore prices also experienced a slight upward trend this week. 1. Iron ore spot prices increase by $2/t w-o-w: The benchmark […]
Morning Brief: The decline in China’s crude steel production continued. Over January-October, 2024 (10MCY’24), it fell 3% to 850 million tonnes (mnt) compared to 877 mnt in the corresponding period last year (CPLY), as per data NBS maintained with BigMint. M-o-m, October output, however, rose 2.9% to 81.9 mnt. Province-wise break-up The top five among the […]
China’s steel market exhibited mixed trends this week amid uncertain market conditions and weak demand. Notably, domestic steel prices, especially that of billets and HRC, decreased due to shifts in raw material costs and futures market trends. While rebar prices edged up, coking coal prices remained largely stable, and iron ore prices ticked downward. 1. […]
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