Chinese finished steel exports fell by 10% to 4.782 MnT in Oct'19 as compared with 5.33 MnT in Sep' 19, recent custom data shows. Price competitiveness from Indian & Russian mills kept interest for Chinese steel products low.
News ID: 7414 Publish Date : 2019/11/08
Bangladesh's bulk scrap market has remained quite active over the last one month with several bulk vessel bookings for November and December shipments being concluded, despite of the ongoing uptrend in prices.
News ID: 7413 Publish Date : 2019/11/08
SteelMint learned from market participants that imported scrap prices to Turkey have slightly inched up in several deep-sea cargo bookings completed in the last few days. Amid tight material availability, the market expects the uptrend to continue for the medium term.
News ID: 7412 Publish Date : 2019/11/08
This was the consecutive week, when billet import offers in the region remained stable. However, amid supply tightness, Turkish imported scrap prices are keeping the billet export market sentiments supported in the region.
News ID: 7411 Publish Date : 2019/11/08
Imported scrap trades in India remained quite slow this week, with buying of Shredded scrap in particular remaining silent all through the week, SteelMint learnt from market participants. Although offers moved up for yet another week as global market continued its uptrend, however buyers remained less interested in limited inquiries witnessed.
News ID: 7409 Publish Date : 2019/11/08
Steel production of PT Krakatau Steel Tbk. broke its record for the highest hot rolled coil (HRC) production of 203,315.5 MT in Oct'19. Its previous record was the production of 200,411 MT.
News ID: 7406 Publish Date : 2019/11/07
Syrian Ambassador to Tehran Adnan Mahmoud, in a conference in Tehran on Tuesday, voiced his country’ enthusiasm for having Iranian companies and investors in the reconstruction of the war-torn country.
News ID: 7395 Publish Date : 2019/11/12
The low calorific value (CV) Indonesian physical coal market came under further pressure from weak Chinese demand, as details emerged of a deal concluded at a lower price than recent similar transactions.
News ID: 7381 Publish Date : 2019/11/12
Indian mills reported to have increased HRC offers by upto INR 750/t ($10.5) for November deliveries. Market participants feel this hike is largely supported on optimism seen in export market rather than improvement in domestic demand. SteelMint analyse why Indian HRC prices are so influenced by export market these days.
News ID: 7373 Publish Date : 2019/11/02
SteelMint in conversation with market participants learned that Vietnam based end users have raised their bids for imported HRC following hike in offers. Current offers for positioned cargo of Indian HRC is assessed around USD 425-430/MT, CFR Vietnam.
News ID: 7349 Publish Date : 2019/11/05
India's domestic pellet market mostly stable on weekly basis except Ex-Bellary based pellet assessment decreased marginally to INR 6,100-6,200/MT this week against last week at INR 6,100-6,300/MT.
News ID: 7348 Publish Date : 2019/11/05
In conversation with market sources SteelMint heard that a major Indian steel manufacture has booked HRC for export to Vietnam for Nov-end Dec shipments. The deal concluded is for 50,000 MT of HRC (SAE 1006) at USD 422-425/MT CFR Vietnam.
News ID: 7337 Publish Date : 2019/11/01
SakunC Innovation Co, expertise in building boats and vehicles with lightweight aluminium, will reportedly deliver the first batch of 208 units of electric minibuses to local customers in the first quarter of 2020. Marketed by the SakunC brand, the vehicle is priced at 2.3 million a unit, said chief executive Weeraphon Techaphasuksanti.
News ID: 7327 Publish Date : 2019/11/08
SteelMint learnt from market participants that the bulk market in South East Asia turned active amid recent bookings reported. Earlier this week, a prominent steel manufacturer in Thailand has booked a bulk scrap vessel from a major Scrap Cargobased recycler.
News ID: 7306 Publish Date : 2019/10/31
Imported scrap trades to Bangladesh have turned very slow this week, with no major bookings being reported in the market , SteelMint learned from market participants. Offers to Bangladesh have marginally inched up while the global market has remained stable for over a week now. Although trades have remained limited in the previous few weeks, however, the recent fall in the local finished steel market amid subsided demand has aggravated the situation further.
News ID: 7299 Publish Date : 2019/10/31
The Iranian government and state funds are backing local tech firms and startups to participate in Bakutel 2019.
News ID: 7127 Publish Date : 2019/11/03
Billet: Yesterday, the ex-factory price of general carbon square billet in Tangshan, Changli and Qian’an was settled at RMB 3,350/MT, down RMB 10; in today’s morning session, the price of billet tends to go weak and transactions on billet are moderate while price of finished steel slips slightly.
News ID: 7115 Publish Date : 2019/10/29
South African Carbonate Ore prices dipped by 65 cents/dmtu to USD 3.65/dmtu CIF India, December shipments. Prices have been falling down since the start of this month, but the fall is lower than expected as the prices are now two years low and further fall is still expected.
News ID: 7114 Publish Date : 2019/10/29
This week Chinese steel makers kept domestic steel prices largely stable over competitive offers in the overseas market . This week iron ore prices moved up towards the weekend. Coking coal offers remained largely stable. Nation’s HRC export offers witnessed a decline despite an uptick in domestic prices. However, rebar export offers remain range-bound.
News ID: 7107 Publish Date : 2019/10/26
SMM and Hong Kong Exchanges and Clearing Limited (HKEX) signed a Memorandum of Understanding (MOU) today to establish a long-term collaboration in the commodities business.
News ID: 7097 Publish Date : 2019/11/03