The global billet market remained sluggish this week, as Turkish imported scrap prices have witnessed a drop amid limited deals. However market remained abuzz with recent billet bookings by China from Iran and Qatar made in last couple of weeks.
News ID: 5239 Publish Date : 2019/07/17
Medium size re-rollers in Bangladesh have slightly increased their rebar offers towards the beginning of the week due to changes in tax structure.
News ID: 5141 Publish Date : 2019/07/13
Pakistan’s government declared its FY20 budget on 11th Jun’19 which has been implemented since the beginning of the new financial year on July 1st. The government has imposed a new tax regime in order to do away with the existing complex regime and realise the actual revenue potential of steel sector and support the industry.
News ID: 5116 Publish Date : 2019/07/11
Steel Authority of India (SAIL) recently conducted auction from its Bhilai Steel plant for defective steel products on 1st Jul'19. Out of 44,685 MT steel put up for auction, only 10,480 MT (23.45%) was sold. Bids for billets lowered by INR 100-200/MT against last auction. Bids for billets were reported at INR 27,300-27,650/MT (ex-Bhilai).
News ID: 5084 Publish Date : 2019/07/09
Luzhou Xinyang Iron and Steel selected Danieli Zero-bucket EAF technology for two new electric arc furnaces to be installed in the new meltshop in Luzhou City, Sichuan Province, China.
News ID: 5063 Publish Date : 2019/06/29
The steelmaker has lowered the domestic scrap purchase prices by another JPY 500-1000/t today after witnessing 7 price cuts in June month.
News ID: 5038 Publish Date : 2019/07/06
Medium size re-rollers in Bangladesh have increased their rebar offers following budget announcement however trade volumes remain limited as market awaits further clarity on budget.
News ID: 5036 Publish Date : 2019/07/06
According to bulk vessel line up data compiled by SteelMint, Bangladesh has observed an increase in bulk imports of raw materials like coal and steel scrap, semi-finish products like HBI and Pig Iron while finished products like steel coil in FY19 (Jul’18-Jun’19) as compared to the earlier fiscal.
News ID: 5014 Publish Date : 2019/07/04
Pakistan's local currency - PKR remained volatile against USD over the last one week, keeping domestic steel sentiments uncertain but local steel prices shot up on increased input cost and inclusion of 17% FED with the beginning of the new financial year from July 1st.
News ID: 5010 Publish Date : 2019/07/04
Availability of right quality of scrap, in adequate quantity, is one of the critical factors for future growth for both EAF/IF sector. Keeping this objective in view and in order to develop a globally competitive steel industry by adopting state of art environment-friendly technologies, Ministry of Steel has prepared a draft steel scrap policy envisaging a framework to facilitate and promote the establishment of ferrous scrap/steel scrapping centers in India. All stakeholders are requested to submit comments latest by 14th Jul'19.
News ID: 5007 Publish Date : 2019/07/03
As per updates received from sources, eastern China’s largest private ferrous scrap consumer and EAF steelmaker - Shagang Jiangsu Steel group likely to announce the price hike for all grades of domestic steel scrap purchase by RMB 70-100/MT (USD 10-15) effective from today (29th June’19). The specific prices shall be based on the price of 2019-F10.
News ID: 4981 Publish Date : 2019/07/02
Indian steel prices remained volatile during the week 26 (22nd to 29th Jun) as domestic trades were not up to the mark for Semis & Finished products amid rising inventories with the mid sized mills, as reported by industry participants.
News ID: 4980 Publish Date : 2019/07/02
As per new price circular released, Japan’s leading EAF mini-mill - Tokyo Steel has further lowered its domestic H2 scrap purchase price by JPY 500/MT (USD 5) today. Amid extremely weakened sentiments in the domestic market, Japanese scrap prices have been in free-fall mode since last few weeks, with this being the 2nd price cut by the company in 3 days
News ID: 4973 Publish Date : 2019/07/01
In conversation with market participants, SteelMint learned that Bangladesh has continued to observe downslide in imported scrap prices since past few weeks. Prices inched down further on weekly basis while decent trades were reported this week.
News ID: 4966 Publish Date : 2019/07/01
As per new price circular released, Japan’s leading EAF mini-mill - Tokyo Steel has lowered the domestic H2 scrap purchase price further by JPY 1000/MT (USD 9) at its Tahara works, Kyushu works and Takamatsu steel centre, while it has cut price by JPY 500/MT at other 2 works, as Japanese domestic scrap prices continue to slide down. The new prices for all grades shall be effective from tomorrow (26th Jun'19).
News ID: 4962 Publish Date : 2019/07/01
SteelMint learned in recent conversations with industry participants that imported scrap prices have slightly turned up following rebound in Turkey imported scrap assessment. Trades remain limited as suppliers majorly stand-in ‘wait and watch’ mode and non-desperate to offer in the large quantity in the market.
News ID: 4959 Publish Date : 2019/07/01
Indian Steel prices slump sharply during the week 25 (15-22 Jun) owing to weak demand amid strong supply. The participants reported below to average inquiries from domestic and global buyers as well, hence there was constant drop in prices.
News ID: 4893 Publish Date : 2019/06/24
As per new price circular released, Japan’s leading EAF mini-mill - Tokyo Steel has again lowered the domestic H2 scrap purchase price by JPY 1000/MT (USD 9) at Kyushu works in western region, and by JPY 500/MT for its other 4 works, amid very weak sentiments in the domestic market. The new prices for all grades shall be effective from tomorrow (21st Jun'19).
News ID: 4888 Publish Date : 2019/06/24
In conversation with market participants, SteelMint learned that imported scrap offers to Bangladesh have significantly dropped this week following the continued downtrend at the global level.
News ID: 4876 Publish Date : 2019/06/23
SteelMint learned from industry participants that Turkish steel mills have taken a pause from buying activities after observing successive falling in scrap prices since the past couple of weeks.
News ID: 4872 Publish Date : 2019/06/23