Mysteel Global: China’s hot-rolled coil (HRC) market is expected to find some balance in March, supported by recovering domestic demand and proactive production cuts, despite headwinds from a worsening trade environment globally caused by rising steel protectionism, Mysteel’s latest monthly report suggests. In March, China’s spot prices of Q235B 4.75 mm HRCs in Shanghai under Mysteel’s […]
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 […]
Indian sponge iron prices declined by INR 50-300/tonne (t) across major locations.PDRI prices closed at INR 24,100-27,000/t, while CDRI settled at INR 26,650-31,000/t.Transactions of 10,500 t were recorded in the country on 6 March, compared to 9,600 t on 5 March. BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, slid down by INR […]
Coal India Limited (CIL), the world’s largest coal producer and a Maharatna PSU, has disclosed its provisional coal production and offtake performance for February 2025. For the period from April-February 2025 (11MFY’25), CIL’s cumulative coal production stood at 695.3 million tonnes (mnt), reflecting a 1.5% year-on-year (y-o-y) increase. This growth underscores the company’s ongoing commitment […]
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, dipped by INR 200/tonne (t) d-o-d to INR 36,400/t DAP on 3 March 2025.Today, the market stayed within a narrow range, with prices in line with expectations from key mills. Steel demand was weaker than the previous trading session, highlighting the continued cautious outlook within […]
South Asia’s imported scrap markets faced sluggish activity, weighed down by weak demand, liquidity concerns, and the impact of Ramadan in Pakistan and Bangladesh. In India, buyers remained cautious amid a widening bid-offer gap and ample domestic availability, while Pakistan and Bangladesh saw reduced interest due to festive slowdowns and subdued construction activity. Meanwhile, Turkish […]
Morning Brief: The HRC-rebar reverse spread entered its sixth month in February, 2025, marking a trend that started in September, 2024. However, in February this year, the negative trough eased slightly m-o-m at -INR 4,400/tonne ($51/t) compared to January’s -INR 5,300/t ($61/t). March onwards, prices have shown an upswing and the sentiments were already being felt […]
BigMint’s bi-weekly iron ore concentrate index stood at INR 4,700/tonne (t) ($54/t) exw-Jabalpur, up by INR 100/t ($1/t), w-o-w. BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, increased by INR 300/tonne (t) d-o-d to INR 36,800/t DAP on 5 March 2025. India’s sponge iron prices increased by INR 100-500/tonne (t) d-o-d across key […]
Australia’s coking coal exports experienced a significant 21% m-o-m decline in February 2025, with total shipments at 8.99 million tonnes (mnt) against 11.33 mnt in January. Meanwhile, exports dropped by a sharper 27% from 12.24 mnt in February 2024. A key driver behind the reduced exports appears to be limited allocations from major coal miners […]
Mysteel Global: China has unveiled its 2025 energy roadmap on the sidelines of this year’s Two Sessions national political meetings, laying out a strategy to balance energy security, electricity market reforms, and carbon reduction, according to a government draft plan released on Wednesday. China’s Two Sessions meetings – the annual assemblies of the National People’s Congress […]