Steel

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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

Tangshan Jinma Steel based in China's top steelmaking province of Hebei is set to invest 12.5 billion yuan to build a steel production base in Chifeng city of Inner Mongolia, according to market sources.
News ID: 4707    Publish Date : 2019/06/01

In the recent conversation with industry participants, Steel Mint got indications that major Indian steel mills may hike flat steel prices in June owing to increased production cost. Although the quantum of hike has not been finalized yet but the anticipation is around INR 500-750/MT.
News ID: 4705    Publish Date : 2019/06/01

This week Chinese plate export offers witnessed decline over thin trading along with bearish sentiments hovering in domestic market.
News ID: 4699    Publish Date : 2019/05/31

The new International Maritime Organization (IMO) 2020 regulations are expected to have some tangible effect on the steel industry. Primarily, increasing freight rates for raw materials such as iron ore and coal as ship owners and operators pass on higher bunker costs.
News ID: 4688    Publish Date : 2019/05/31

Two giant Iranian aluminum companies have produced more than 20,000 tons of ingots in the first month of the current Iranian calendar year (March 21 – April 21).
News ID: 4664    Publish Date : 2019/05/28

South Korean leading EAF steelmaker, Hyundai Steel has reportedly lowered the bids for Japanese scrap purchase by another JPY 500/MT (USD 5) this week on account of availability of inventory with the steelmaker and uncertainty in the domestic Japanese scrap prices with steelmakers in 'Wait and Watch' mode.
News ID: 4645    Publish Date : 2019/05/27

Following rally in Indian domestic sponge prices, the latest export offers being quoted high by USD 5/MT as against assessment made during last week.
News ID: 4641    Publish Date : 2019/05/26

SAIL's pig iron auction conducted today for 6,500 MT steel grade pig iron from its Rourkela Steel plant (eastern India) has received quite better response in line with last auction which was held on 15th May'19.
News ID: 4638    Publish Date : 2019/05/25

Steel Mint learned in recent conversations with industry participants that Pakistan’s steel market has turned uncertain after its currency hit record low levels.
News ID: 4624    Publish Date : 2019/05/22

Indian steel prices remain slightly surge by INR 100-400/MT on improved inquiries from the domestic buyers. The mid sized mills have raised Billet prices by INR 100-400/MT, Rebar by INR 100-300/MT & Sponge iron by INR 100-200/MT day on day in major markets.
News ID: 4623    Publish Date : 2019/05/22

Indian spot steel prices sharply surge by INR 300-600/MT in a day on improved demand in finished steel products amid positive outlook. The sources have reported better response from the stockiest & end user segment.
News ID: 4617    Publish Date : 2019/05/22

Global scrap prices witnessed mixed trends this week. Prices continued downtrend following low demand in most of the markets except, Turkey. Following lowering of tariffs from earlier 50% to 25% on Turkey steel products by the US government, recovery in global scrap prices is expected in the upcoming days.
News ID: 4591    Publish Date : 2019/05/20

Formosa Ha Tinh Corporation (FHS), Vietnam’s largest steel manufacturer of the country has revealed the billet export offers today for shipments scheduled by July. The price offered by the company is reported to be USD 465/MT, FoB, up marginally by USD 4/MT against last month.
News ID: 4579    Publish Date : 2019/05/19

Steel Mint has heard that the Hebei province’s Tangshan city has set higher iron and steel capacity cuts target for 2019 after the feedback received from the air pollution inspection team recently.
News ID: 4558    Publish Date : 2019/05/17

In conversation with industry participants, Steel Mint learned that imported scrap offers to Bangladesh have further fallen this week on the account major correction in global levels along with slow sales of domestic finished steel.
News ID: 4551    Publish Date : 2019/05/16

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