Steel

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With no major change in China’s downstream steel demand, the overall situation in country’s GE market continues to remain sluggish and the prices prevails to be weak.
News ID: 6385    Publish Date : 2019/09/05

Medium sized re-rollers in Bangladesh have reduced their rebar offers against last week assessment due to inadequate demand of finished steel which has narrowed down post Eid festivals.
News ID: 6382    Publish Date : 2019/09/05

Indian government has amended its import policy covered under foreign trade policy of 2015-2020 from 'free' to ' free subject to compulsory registration under Steel Import Monitoring System (SIMS)' for the items covered under chapter 72,73 and 86.
News ID: 6381    Publish Date : 2019/09/05

Eastern China’s largest private ferrous scrap consumer and EAF steelmaker - Shagang Jiangsu Steel group has announced another price cut for all grades of domestic steel scrap procurement by RMB 50/MT (USD 7) effective from 30 Aug'19. Notably, this is steel mills' 2nd price cut in a week's time. Prior to this, the company had cut prices by RMB 60 two days back. Falling billet & steel prices resulted in lowering of scrap purchase prices.
News ID: 6375    Publish Date : 2019/08/31

Global ferrous scrap market observed downtrend in almost all major markets this week. Turkey observed further fall in prices in this week's cargo bookings, while south Asian markets continued to follow the downtrend. Japan's Tokyo Steel , as well as China's Shagang Steel , lowered their scrap purchase price twice this week while South Korea's Hyundai steel booked Japanese cargo last week after a gap of few weeks.
News ID: 6372    Publish Date : 2019/08/31

Manganese Ore India Ltd (MOIL), a Mini Ratna Schedule-A CPSE, under the administrative control of the Ministry of Steel , is the largest producer of manganese ore in the country.
News ID: 6363    Publish Date : 2019/09/03

Bharat Heavy Electricals Limited - a govt owned unit yesterday in a BSE filing informed that - "a contract to construct a Raw Material Handling System at NMDC's under construction Integrated Steel Plant, Nagarnar, Bastar district — Chhattisgarh, is being executed by BHEL-ISG Bengaluru division."
News ID: 6361    Publish Date : 2019/09/03

Steel Mint learned in recent conversations with industry participants that imported scrap offers to Pakistan have moved down considerably on account of a continuous global downturn, however, buyers are targeting further correction as buying interest continues to remain lower. Domestic sales remained slow ahead Muharram coupled with heavy rainfall keeping demand low.
News ID: 6357    Publish Date : 2019/09/03

German industrial group Thyssenkrupp is in talks to buy metals trader Kloeckner & Co in a move to strengthen its steel business, Handelsblatt reported on Thursday citing sources familiar with the matter.
News ID: 6309    Publish Date : 2019/09/05

Vizag Steel , a leading state owned Pig iron producer and exporter, has issued an export tender of 25,000 MT basic grade steel making Pig iron for any country other than Nepal. The offered material has specifications - C: 3.5 - 4.8%; Mn: 0.50% (max); Si: 1.5% (max); P: 0.12% (max); S: 0.050% (max).
News ID: 6286    Publish Date : 2019/09/03

Production of steel products in Iran has risen 11.6 percent during the first four months of the current Iranian calendar year (March 21-July 22), from that of the same period of time in the past year, IRNA reported citing the data released by the Industry Ministry.
News ID: 6244    Publish Date : 2019/08/26

Iran’s major steel producers exported 2.241 million tons of steel during the four-month period from March 21 to July 22, IRNA reported.
News ID: 6225    Publish Date : 2019/08/23

China's ferrous scrap consumption totalled 101.1mn t in this year's first half, up by 15.3pc from a year earlier on the back of higher scrap feed in the basic oxygen furnaces (BoF) of blast furnace-based steel mills.
News ID: 6213    Publish Date : 2019/08/28

Thailand's new government is expected to pass a budget that will boost steel demand in 2020, which together with new anti-circumvention laws will reverse sagging utilisation rates.
News ID: 6210    Publish Date : 2019/08/28

Following the constant downturn in semi-finished and finished steel prices, market expects Odisha merchant miners to revise iron ore prices in the near short term. Current Steel Mint assessment of 5-18mm is at INR 3,700-3,800/MT and for fines is at INR 2,000/MT ex-mines, including Royalty, DMF & NMET, GST extra). As per the sources, market participants are expecting a price cut from the Odisha merchant miners soon. Although miners haven't announced any indications yet but trade sources are expecting a reduction of INR 150-200/MT.
News ID: 6198    Publish Date : 2019/08/27

Indian steel market participants expect steel demand will pick up after the government increases public spending and brings in favourable policy reforms in October.
News ID: 6184    Publish Date : 2019/08/26

As per the latest market sources, the Commerce Ministry’s trade investigation arm, DGTR (Directorate General of Trade Remedies) has rejected Indian Steel Association’s (ISA) plea to impose restrictions on steel imports in the form of 25% Safeguard duty on the grounds that the criterion for applying safeguard duty have not been met.
News ID: 6180    Publish Date : 2019/08/26

In conversation with the market participants, Steel Mint learned that after returning post Eid holidays, the imported scrap offers to Bangladesh have continued to slide down this week, with decent trades being reported even as few of the participants have not fully returned back. Domestic market observed downtrend in prices on overproduction of finished steel exceeding the current demand.
News ID: 6179    Publish Date : 2019/08/26

The Iranian Ministry of Industry, Mine and Trade said on Monday that the country has produced some 7.2 million tons of steel products in the first 4 months of the current local calendar year (March 21-July 21) indicating an 11.6% growth compared with the output of the same period last year.
News ID: 6173    Publish Date : 2019/08/26

Iranian steelmakers produced a total of 15.61 million tons of steel products during the first four months of the current Iranian year (March 21-July 22) to register an 8% year-on-year increase, the Iranian Steel Producers Association's latest report shows.
News ID: 6164    Publish Date : 2019/08/25

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