SteelMint in conversation with market sources learned that major Indian steelmakers have rolled over HRC, CRC prices in Aug’19. However market sources are eyeing for announcement of rebates and discounts owing to thin trades and sluggish demand experienced in domestic market.
News ID: 5829 Publish Date : 2019/08/07
In conversation with trade sources based in Nepal, SteelMint learned that major Indian steel mills are actively offering HRC exports to Nepal for Aug- Sep shipments. However Indian HRC export offers to Nepal reported marginal fall by USD 5/MT in recent deals concluded.
News ID: 5828 Publish Date : 2019/08/07
SteelMint in conversation with trade sources learned that Chinese mills have reduced bid for low grade iron ore fines following steep decline in global iron ore fines index throughout this week. SteelMint’s assessment for low grade (Fe 57%) iron ore fines is around USD 60-62/MT, FoB India or equivalent to USD 75-77/MT, CFR China as against being USD 87/MT, CFR China last month.
News ID: 5771 Publish Date : 2019/08/06
Falling ingot/billet production of standalone mills has lowered supply in merchant market, however weak demand of finished steel products remained a concern. Therefore prices remained volatile since more than a week's time amid subdued trade activities.
News ID: 5770 Publish Date : 2019/08/06
During the week-31 (27 Jul-3 Aug’19), Indian steel prices in secondary market remained on a free fall owing to weak demand from the domestic & global buyers.
News ID: 5768 Publish Date : 2019/08/06
Indian induction grade billet export offers to Nepal declined following drop in Indian domestic prices, however as per suppliers buyers are in wait & watch mode with assumption of further drop in offers due to onset of monsoon which turned demand weak.
News ID: 5740 Publish Date : 2019/08/05
Rebar demand in Indian secondary market (those of mid sized mills) remains depressed due to dull sentiments observed in domestic market as well as global market.
News ID: 5732 Publish Date : 2019/08/05
Indian mill heard to have concluded a bulk parcel of 50,000 MT granulated pig iron (GPI) last week to China at around USD 340-350/MT FOB India east coast, SteelMint learnt from market sources.
News ID: 5731 Publish Date : 2019/08/05
Indian HRC prices continued to remain on lower side over tedious demand and dull buying prevailing in domestic market. Trade sources shared that market sentiments continued to remain lackluster over fewer trades happening in domestic market.
News ID: 5721 Publish Date : 2019/08/05
Indian melting scrap prices fluctuated slightly in specified regions and price range move down by INR 200-300/MT on weekly basis in major scrap consuming regions i.e. western & southern India.
News ID: 5685 Publish Date : 2019/08/02
In a move to spur the growth of vehicle recycling agencies across the country and increase adoption of electric vehicles, the Road Transport and Highways Ministry has proposed a draft policy that buyers of newly purchased vehicle would not have to pay registration fees if they present a scrapping certificate of a previously owned vehicle of the same category issued by an authorised scrapping centre/agency, and the scrapping certificate has not been utilised for any other such cases in the past.
News ID: 5647 Publish Date : 2019/08/01
In a move to spur the growth of vehicle recycling agencies across the country and increase adoption of electric vehicles, the Road Transport and Highways Ministry has proposed a draft policy that buyers of newly purchased vehicle would not have to pay registration fees if they present a scrapping certificate of a previously owned vehicle of the same category issued by an authorised scrapping centre/agency, and the scrapping certificate has not been utilised for any other such cases in the past.
News ID: 5560 Publish Date : 2019/07/29
Mid sized mills in central & western India have cut rebar production on the back of dull domestic demand. Mills have lowered production by 30-40% which lead to fall in inventories. Inventories have comparatively lowered than previous week.
News ID: 5556 Publish Date : 2019/07/29
Indian billet & rebar prices fell further by INR 100-500/MT due to limited demand in finished products. In line with this, sponge iron offers marginally dropped by INR 100-200/MT on less selling pressure with the mills.
News ID: 5548 Publish Date : 2019/07/29
Imported HRC offers to Vietnam have reported fall of USD 5/MT against the offers assessed in beginning of this week.
News ID: 5547 Publish Date : 2019/07/29
Indian HRC prices witnessed further downside this week by around INR 750-1000/MT on the back of mute buying, liquidity issues and inactive demand prevailing in domestic market. Meanwhile prices in northern India like Faridabad and Delhi witnessed significant fall of around INR 800-1500/MT this week.
News ID: 5513 Publish Date : 2019/07/28
Indian mills resume HRC export offers to Nepal - As per conversation with industry participants, few major Indian steel mills in eastern India have resumed offering HRC exports to Nepal for Sep’19 deliveries.
News ID: 5475 Publish Date : 2019/07/25
During the week-29 (13-20th Jul'19), Indian domestic trade activities were subdued. The mid sized steel mills reported mix response from the domestic buyers over uncertainty in the market.
News ID: 5471 Publish Date : 2019/07/25
Seaborne iron ore pellet prices in China slipped this week, as a sharp decline in seaborne lump prices cut into demand for Indian pellet.
News ID: 5437 Publish Date : 2019/07/23
SteelMint learned from industry participants that Indian market has remained less viable for scrap imports for yet another week. Offer levels remained rangebound in very limited trades reported so far.
News ID: 5355 Publish Date : 2019/07/20