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
Nepal’s billet imports fell by 24% M-o-M to 53,122 MT in Oct’19 against 70,390 MT in Sept’19. Entire import volumes were recorded from India.
News ID: 7353 Publish Date : 2019/11/05
South African Manganese Ore exports have hit record levels of over 1.8MnT in Sep’19. The country’s Manganese Ore exports were 1,819,213MT in Sep’19, taking the year-to-date Production at 14.99MnT which is 15% higher than the previous year.
News ID: 7351 Publish Date : 2019/11/05
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
Indian pig iron manufacturer - Vedanta has recently concluded pig iron export deal to China last week, as per market sources report to SteelMint. The company is heard to have concluded 35,000 MT basic grade pig iron export deal to China for Nov shipment at around USD 330/MT, CFR China.
News ID: 7344 Publish Date : 2019/11/04
Indian iron ore exports have recorded sharp increase in Oct’19. The exports were witnessed at 1.74 MnT, up 53% M-o-M as against Sep’19 exports at 1.14 MnT. On yearly basis, the exports have depicted a significant rise as compared to Oct’18 at 0.42 MnT.
News ID: 7342 Publish Date : 2019/11/04
Indian sponge iron exports observed a jump of 62% in first 6 months of FY20 (Apr-Sep'19) against the same period in preceding year. Exports have increased on account of rising demand from neighboring countries like Bangladesh, Bhutan and Nepal.
News ID: 7339 Publish Date : 2019/11/04
According to market sources report to SteelMint, Indian pellet export prices have moved down in recent deals concluded by Odisha based pellet maker.
News ID: 7309 Publish Date : 2019/10/31
Iranian Ambassador to New Delhi Ali Chegeni underlined the importance of Iran's Chabahar port for India to increase its exports to Afghanistan.
News ID: 7295 Publish Date : 2019/11/06
Steel Authority of India - a government of India Company has floated export tender for prime mild steel non-alloy concast billets. The tender quantity is reported to be 18,900 MT. The cargo will be shipped from Haldia port. The tender was put up for Prime Mild Steel Non-Alloy Concast billet, size 150*150 mm offered from IISCO Steel Plant.
News ID: 7116 Publish Date : 2019/10/29
Chinese HRC export offers inch up on tight availability- The Chinese mills have slightly raised their HRC export offers for the first time since Aug'19 when the prices had started to decline. Currently, China HRC export offers stand around USD 430-440/MT FoB China, up by USD 5-10/MT in comparison with USD 425-430/MT in the previous week.
News ID: 7111 Publish Date : 2019/10/29
This week global billet market witnessed limited trades. Billet export offers from all the major markets witness a rise amid increase in Turkey’s imported scrap prices.
News ID: 7110 Publish Date : 2019/10/26
Iran is estimated to surpass a target of $9 billion worth of steel exports set for the end of the current local calendar year on March 21, 2020 by more than 30%, Deputy Industries Minister Jafar Serqini said, adding that the country has already exported $6 billion worth of the metal in the first half, despite all bans imposed by the US.
News ID: 7085 Publish Date : 2019/11/01
Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati in an Instagram post said despite the United States' growing sanctions against against Iran, his nation's economy is moving forward in areas of trade, including both oil and non-oil exports.
News ID: 7082 Publish Date : 2019/11/02
Negotiations for November domestic ferrous scrap supply contracts are about to start in Germany.
News ID: 7065 Publish Date : 2019/11/01
Negotiations for November domestic ferrous scrap supply contracts are about to start in Germany.
News ID: 7065 Publish Date : 2019/11/01
Indian billet and pig iron exports turn active on renewed buying interest from Chinese traders.
News ID: 6991 Publish Date : 2019/10/16
Market participants are hopeful of upcoming Diwali festive season to boost demand and less chances of further decline in prices in near term.Further festive holidays will keep domestic HRC prices largely supported.
News ID: 6986 Publish Date : 2019/10/16
As per the data recently released by Chinese Customs, the nation's finished steel exports witnessed a decline of 8% to 15.9 MnT in Q3 CY'19 which was 17.37 MnT in the previous quarter.
News ID: 6939 Publish Date : 2019/10/14
According to market sources report to SteelMint, Indian pellet export market turn active amid decent deals concluded by pellet makers recently.
News ID: 6938 Publish Date : 2019/10/14
