SteelMint has heard from its market sources that after falling continuously over past few months, the electrodes prices in China have stabilized this week. However, the market continues to remain weak with tepid downstream demand and high inventories with the producers.
News ID: 6471 Publish Date : 2019/09/20
Vietnam’s domestic steel producer - Formosa Ha Tinh has announced a steep cut of around USD 51/MT in its offers for Nov shipments.
News ID: 6469 Publish Date : 2019/09/13
Formosa Ha Tinh Corporation (FHS), Vietnam’s largest steel manufacturer of the country has slashed its billet offers for shipments scheduled by Oct’19. The price offered for billet by the company is reported to be USD 420/MT, CIF North, down USD 35/MT against last month and that to for South is reported to be USD 425/MT, CIF, down from USD 460, CIF against last month.
News ID: 6468 Publish Date : 2019/09/13
In conversation with industry participants, SteelMint learned that imported scrap market trades to India witnessed a slight rise, while offers fell amid declining global prices. Some improvement was witnessed in finished steel sales, keeping the market hopeful for the coming weeks.
News ID: 6466 Publish Date : 2019/10/03
PELLEX increased to INR 6,150/WMT (DAP Raipur) amid active trade volumes. Two deals were reported in Raipur market in this publication window (with total traded quantity of 35,000 MT).
News ID: 6465 Publish Date : 2019/09/13
This week SteelMint learned from market sources that Indian HR-Plate prices have witnessed further correction by INR 750-1000/MT in the domestic market.
News ID: 6461 Publish Date : 2019/09/12
‘Kanto Tetsugen’- Japan’s monthly ferrous scrap export tender for Sep’19 was concluded today (11th Sep’19) in the Kanto region. Total of 22,100 MT of H2 scrap was awarded at an average of JPY 24,849 /MT (USD 230), FAS, as compared to JPY 27,714/MT in Aug 2019, witnessing a sharp fall of JPY 2865/MT (USD 27) on a monthly basis, SteelMint learned from market sources.
News ID: 6455 Publish Date : 2019/09/11
Vizag Steel, a leading state-owned Pig iron producer, and exporter, has issued a new export tender of 25,000 MT basic grade steel making Pig iron for any country other than Nepal.
News ID: 6453 Publish Date : 2019/09/11
The global billet market sentiments are getting weaken with every passing day. Sharp drop in the offers of two billet export majors’; CIS nation and Iran, was witnessed this week. The current billet export offers from the two are USD 355-360/MT, FoB. Although, no deals were reported at this offer. However, last deal was reported to MENA region from CIS nations at around USD 365/MT, FoB, Black Sea.
News ID: 6451 Publish Date : 2019/09/11
SteelMint learned in recent conversations with industry participants that imported scrap offers to Pakistan and Bangladesh have further dropped this week, as Turkish scrap prices continuing to decline in recent deep sea cargo bookings.
News ID: 6450 Publish Date : 2019/09/11
This week SteelMint heard from its trade sources that domestic HRC prices slumped further by INR 500-1000/MT in traders market post announcement of roll over in flat steel prices by major steelmakers in month of Sep’19.
News ID: 6448 Publish Date : 2019/09/11
In recent conversations with industry participants, SteelMint learned that imported scrap prices to South East Asia have moved down significantly over the last 2 weeks, amid recent global downturn and slow demand domestically.
News ID: 6444 Publish Date : 2019/09/10
Indian steel mills export aggressively as domestic sales remain slow- Market sources shared with SteelMint that Indian steelmakers booked around 50,000 MT of HRC with Vietnam at around USD 455-460/MT CFR Vietnam for Oct deliveries. Last week the offers was assessed around USD 460-465/MT CFR basis. Thus decline of USD 5-10/MT could be seen in recent deals concluded.
News ID: 6443 Publish Date : 2019/09/10
Steel Authority of India Ltd (SAIL) has reduced pig iron (steel grade ) offers by INR 400/MT ($ 6) from its Bhilai Steel Plant (BSP), SteelMint learned from market sources.
News ID: 6415 Publish Date : 2019/09/07
According to data maintained with SteelMint , Indian pellet export volumes in Aug'19 has been recorded at 1.42 MnT, up 19% on monthly basis as against 1.20 MnT a month ago. On yearly basis, exports increased sharply as compared to Aug'18 exports at 0.45 MnT.
News ID: 6412 Publish Date : 2019/09/06
Imported HRC offers to Bangladesh have come down further this week by USD 10-20/MT.
News ID: 6410 Publish Date : 2019/09/06
Indian major steel manufacturers have kept HRC, CRC prices unchanged for the month of Sep’19, SteelMint learned in conversation with industry participants. Owing to prolonged weakness prevailing in domestic demand & increasing inventories, Indian steel mill have also announced rebates over tepid demand and increased inventories in domestic market.
News ID: 6384 Publish Date : 2019/09/05
Indian HRC bulk export shipments observed a sharp hike in Aug'19 according to port data maintained with SteelMint . Indian bulk HRC export shipments were recorded at 433,161 MT in Aug'19 against 148,600 MT in Jul'19.
News ID: 6379 Publish Date : 2019/09/04
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
Prices have come down by around USD 15-20/MT in a week's time with couple of deals being reported to Turkey yesterday.
News ID: 6377 Publish Date : 2019/09/04