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: 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 […]
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 […]
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 […]
Iran’s finished steel imports in the first six months (21 March-20 September, 2024) of the current Persian year stood at 0.76 million tonnes (mnt), a marginal drop of 2% compared to the same period of last year, according to data from the Iranian Steel Producers Association (ISPA). Imports of long products were recorded at 52,000 […]
Mysteel: Japan has responded angrily to the decision of Turkiye’s Ministry of Trade earlier this month to impose anti-dumping (AD) duties on imports of hot-rolled coil (HRC) originating from several countries, including Japan, describing the decision as inappropriate and very regrettable. Turkiye’s trade ministry announced on 11 October that HRC imports from China, India, Russia, and […]