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 […]
Brazilian mining giant Vale has set an ambitious target to surpass 360 million tonnes (mnt) of iron ore production by 2030, said Eduardo Mello Franco, Marketing Manager, Vale, at the Asia Iron Ore Summit organised by Mysteel Global. As part of this strategy, the company is committed to driving sustainable mining practices, focusing on safety […]
Mysteel: China’s economy require strong policy support in terms of short- and medium-term macro-economic adjustments, said Pang Gongsheng, Governor of the People’s Bank of China (PBOC), at a financial industry forum last Friday. “The PBOC had earlier conducted in-depth research and prepared policy responses in advance, and the central government decisively introduced a package of stimulus […]
Mysteel Global: China Resource Recycling Group (CRRG), a new state-owned enterprise tasked with building a national platform for resource recycling and reuse, was officially established on October 18 in North China’s Tianjin, according to state media Xinhua News Agency. China launches new SOE to lead national recycling efforts. The new company, with a registered capital of […]
Imported bulk scrap prices from Japan fell slightly by around $2/tonne (t) in the Vietnamese market, while US scrap offers have also inched down by $2-3/t. As per market sources, H2 scrap offers to Vietnam were reported at $340-345/t CFR, down $5/t w-o-w, with indicative bids around $330-335/t CFR. While demand remains moderate, further price […]
Mysteel Global: Indonesian coal production this year is likely to surpass its target of 710 million tonnes (mnt), the latest data from the country’s Energy and Mineral Resources Ministry (ESDM) suggests. The prediction is based on the fact that the country’s coal output during January-September this year touched 613 mnt, leaving only 97 mnt to be […]
Mysteel Global: China’s Coal output rises 4.4% y-o-y in September 2024 to reach 414.46 mnt, the highest level since April 2023, according to the latest release from China’s National Bureau of Statistics (NBS) on 18 October. The total was also higher by 4.5% from that recorded in August. On a daily basis, coal production in September […]
Jindal SAW’s total income (standalone) for second quarter of financial year 2025 (Q2FY’25) stood at INR 47,902 million, higher by 4% compared to INR 46,108 million in Q2FY’24, the company reported in its investors’ call held on 21 October, 2024. EBITDA (standalone) stood at 8,751 million in Q2FY’25, up by 17% y-o-y from INR 7,505 […]
Tokyo Steel, Japan’s leading electric arc furnace steel manufacturer, rolled over prices of hot-rolled coils (HRCs) (1.7-22 mm) for November 2024 shipments compared to the last month. Additionally, Tokyo Steel keeps steel prices of rebars and H-beams stable for the same period. Factors affecting prices 1. Rebound in Kanto scrap export tender bids: The Kanto Iron and Steel […]
Imported ferrous scrap offers to Pakistan slightly declined w-o-w, Pakistani mills are not actively sourcing imported scrap with continued weak rebar sales and competitive domestic scrap prices. As per market insiders, rebar movement stays sluggish, and for the current week liquidity pressure may persist. So far, India, Pakistan, and Bangladesh are not competitive markets because […]