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
Indian iron ore imports for the month of Aug’19 have been recorded nil, according to the data maintained by SteelMint. The imports have dropped to nil after 4 years as this level was last witnessed in Oct’15. Indian iron ore imports in July’19 stood at 51,470 MT.
News ID: 6378 Publish Date : 2019/09/04
Following decline in global iron ore fines price, Indian low grade iron ore fines export prices have also witnessed downturn. Odisha based manufacturer is heard to have concluded low grade iron ore (Fe 57%) fines deal for 50,000 MT. The material booked is for Sep loading and the deal is concluded at around USD 55/MT, CFR China. The freight charges from east coast to China is around USD 13-15/MT. However few indications for low grade fines export price were also heard at below USD 55/MT, CFR China.
News ID: 6376 Publish Date : 2019/08/31
To avoid future dependency on China for lithium batteries, Indian Oil Corporation Limited (IOCL) will reportedly make an alumina-based battery, which will be used for running electric vehicles.
News ID: 6280 Publish Date : 2019/08/29
India's coated steel prices dropped further this week, as consumption remained minimal with buyers delaying payments because of a lack of funds.
News ID: 6212 Publish Date : 2019/08/28
SteelMint recently learned from market sources based in Nepal, that major Indian steel mills have corrected their HRC export offers to Nepal for Sep shipments over bearish sentiments prevailing in domestic market.
News ID: 6204 Publish Date : 2019/08/28
In conversation with industry participants, SteelMint learned that Indian imported scrap market has maintained total silence over the current week, amid continued downtrend in the domestic steel market of the country. Nonfeasibility of imported scrap due to ongoing downfall in the domestic fundamentals has kept buyers away, even as offers have fallen to 2 years low levels.
News ID: 6203 Publish Date : 2019/08/28
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
Indian pellet export market continues remain slow as market participants are awaiting firm bids from China. According to the market participants, no firm bids for pellets from China were heard but indications for export around USD 110-115/MT, CFR China levels (3% Al pellets).
News ID: 6182 Publish Date : 2019/08/26
Sponge iron export activities resumed for Bangladesh which remained silent last week due to Eid festive in the country.
News ID: 6177 Publish Date : 2019/08/26
SteelMint in conversation with traders based in Vietnam shared that a major Indian steel mill recently booked HRC cargoes for export to Vietnam for Sep or early Oct shipments.
News ID: 6157 Publish Date : 2019/08/25
Indian billet prices fell further due to weak demand in finished products and as per daily assessment the drop is about INR 100-500/MT with major correction of INR 500/MT (USD 7) in southern India, Hyderabad.
News ID: 6067 Publish Date : 2019/08/20
SteelMint in conversation with trade sources indicated that low grade iron ore fines export price have come down sharply following global trend. SteelMint’s assessment for low grade (Fe 57%) iron ore fines is around USD 55-60/MT, CFR China down by USD 10/MT as against being USD 65/MT, CFR China a week before. In a month’s time, low grade fines export assessment has come down by around USD 30/MT.
News ID: 6050 Publish Date : 2019/08/19
Indian long steel market observed surge in price range this week, however trades not upto the mark amid sufficient supply and lessened export inquiries.
News ID: 6049 Publish Date : 2019/08/19
Indian steel prices rallied today following rumours in the market saying that Indian government has imposed safeguard duty on temporary basis by 20-25% on imported flat steel. However no official confirmation or official circular was received till the time of publication this report.
News ID: 5997 Publish Date : 2019/08/17
Indian Steel prices were down trend during the Week -32 (3-10 Aug'19) over limited spot trades. However by the end of week, the prices have gain momentum on slight improved demand in Northern India.
News ID: 5992 Publish Date : 2019/08/17
Indian iron ore export volumes for July’19 stood at 2.13 MnT, up 19% as against 1.79 MnT in June’19. On yearly basis, exports increased significantly compared to July’18 at 0.17 MnT.
News ID: 5980 Publish Date : 2019/08/16
Indian iron ore imports in July’19 have been recorded at 51,470 MT, according to the data maintained by SteelMint. Indian iron ore imports witnessed 28% decline for the month compared to 71,865 MT in June’19. The imports have dropped amid high global prices. Imports for the month recorded 5 years low as the levels were last witnessed in June’14 at 45,487 MT.
News ID: 5933 Publish Date : 2019/08/15
Sponge iron prices in southern & eastern India dropped to 2 years low, whereas in central region it is trading near to 20 month's low, as per assessment maintained with SteelMint.
News ID: 5930 Publish Date : 2019/08/15
According to provisional data released by Joint Plant Committee (JPC) India’s finished steel exports (non alloy steel +alloy and stainless steel) doubled on monthly basis and stood at 0.461 MnT in Jul’19 as compared to 0.299 MnT in previous month.
News ID: 5862 Publish Date : 2019/08/08