Steel

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South Korean leading EAF steelmaker, Hyundai Steel has reportedly lowered the bids for Japanese scrap purchase by JPY 1,000/MT (USD 9) today.
News ID: 4818    Publish Date : 2019/06/14

Aimed at restricting imports through yet another non-tariff measure, the steel ministry has solicited introduction of port of entry restrictions for scrap and second hand or defective steels.
News ID: 4817    Publish Date : 2019/06/14

Amid the increased graphite electrodes supplies from China and subsequent fall in global GE prices, Japan’s key electrodes manufacturer, Showa Denko has decided to improve its Carbon division’s production facilities in Europe with a planned investment of 5 billion yen.
News ID: 4815    Publish Date : 2019/06/14

Steel Mint learned in recent conversations with industry participants that Pakistan’s government has declared its fiscal year 2020 budget yesterday.
News ID: 4813    Publish Date : 2019/06/14

In conversation with market participants, Steel Mint learned that imported scrap offers to Bangladesh have weakened on account of further softening of prices at the global level.
News ID: 4812    Publish Date : 2019/06/14

According to latest data released by Chinese customs, nation’s finished steel exports in May’19 stood at 5.74 MnT, declined by 9% over 6.33 MnT in Apr’19.
News ID: 4810    Publish Date : 2019/06/11

China’s Heilongjiang Changsheng Carbon Co. Ltd., located in Sahngzi city of Heilongjiang province has once again started the production of graphite electrodes after the closure for almost seven years. The factory formerly known as Luohe Carbon Plant was closed down in the year 2012 amid poor market demand.
News ID: 4805    Publish Date : 2019/06/11

Global ferrous scrap markets witnessed downtrend on poor demand this week. Turkish steelmakers remained away from trading activities on public holidays. South Asian market showed little activity with India witnessing limited deals at lowered prices while Pakistan and Bangladesh remaining silent on Eid Holidays.
News ID: 4804    Publish Date : 2019/06/11

Indian Steel market remained on down trend during the Week-23 (1st to 8th Jun’19) as the prices dipped owing to lack of domestic & export inquiries. Meanwhile supply of across all products was healthier, while demand lessened in across region.
News ID: 4803    Publish Date : 2019/06/11

This week Chinese steel prices reported continual decline and witnessed significant fall amid pessimistic market sentiments and dull outlook prevailing in domestic market. Also volatile futures lead to further fall in steel prices in China.
News ID: 4801    Publish Date : 2019/06/11

Iran’s domestic coal consumption revolves around 2 million tons per year, 1.5 million tons of which are supplied by domestic production while the remaining 500,000 tons are imported.
News ID: 4785    Publish Date : 2019/06/09

This week domestic HRC prices remained steady on the backdrop of limited trade activities and lackluster demand prevailing in domestic market.
News ID: 4774    Publish Date : 2019/06/09

Indian secondary rebar demand remained subdued across region with limited buying interest from traders & retailers amid higher inventory levels seen from major supplying regions as price level reduced by INR 400-800/MT across regions.
News ID: 4773    Publish Date : 2019/06/09

South Korean steel giants POSCO and Hyundai Steel are facing crisis as the municipal administrations have ordered to shut down the operations of blast furnace for 10 days as the mills are emitting air pollutants illegally and operating blast furnace without anti pollution equipment.
News ID: 4770    Publish Date : 2019/06/07

The new steel minister Dharmendra Pradhan has his task cut out. Right from reining in the rising trend of imports to ensuring uninterrupted supply of iron ore and bank credit to the industry for capacity addition, the new minister will have a tough time in office, at least in the short to medium term.
News ID: 4769    Publish Date : 2019/06/07

After GAIL, ONGC too has expressed angst at overcharging by domestic steelmakers. The state-run oil and gas major has alleged that domestic firms have quoted prices on 'the higher side’ in reply to its tenders invited for procurement of regular casing pipes.
News ID: 4767    Publish Date : 2019/06/07

Chinese HRC export offers weigh down further over falling domestic prices- Chinese HRC export offers decline further this week owing to falling steel prices in domestic market.
News ID: 4761    Publish Date : 2019/06/07

Salem Steel Plant (SSP), a unit of Steel Authority of India Limited (SAIL) - a government of India undertaking had floated a global tender for purchase of around 55,000 MT imported melting Shredded scrap on 21st Dec’18.
News ID: 4750    Publish Date : 2019/06/04

Global ferrous scrap markets witnessed an overall mixed trend this week. Turkey witnessed price correction by USD 8-10/MT in limited trades concluded from Baltic origin. Japan's Tokyo Steel lowered domestic scrap purchase price by another JPY 500/MT.
News ID: 4749    Publish Date : 2019/06/04

Driven by the weak demand and rising imports, the world’s largest steelmaker, ArcelorMittal said on Wednesday that it will further reduce steel production in Europe.
News ID: 4708    Publish Date : 2019/06/01

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