This week global billet market observed few deals in SE Asia. Rest all prime markets remained silent. SteelMint tried to scrutinize the trade silence in prime markets other than SE Asia and learned dipping global scrap prices and slow down in the global economy are the prime reason for this fall.
News ID: 6374 Publish Date : 2019/08/31
Domestic pellet offers in Indian market continued to remain stable at the beginning of week 36, 2019.
News ID: 6358 Publish Date : 2019/09/03
SteelMint learned in recent conversations with industry participants that imported scrap offers to Pakistan have moved down considerably on account of a continuous global downturn, however, buyers are targeting further correction as buying interest continues to remain lower. Domestic sales remained slow ahead Muharram coupled with heavy rainfall keeping demand low.
News ID: 6357 Publish Date : 2019/09/03
Indian pellet export market has gained some movement after observing a week's silence. According to market sources reported to SteelMint , an east India based pellet maker has concluded pellet export deal to China for 50,000 MT pellet (Fe 64%, and 3% Al).
News ID: 6356 Publish Date : 2019/09/02
NMDC (Chhattisgarh) supplied total of 169 rakes (0.65 MnT) of iron ore in the month of Aug’19, down 24% against 222 rakes (0.85 MnT) a month before in Jul’19, according to railway movement data maintained with SteelMint . Amid heavy rains, miner's iron ore production and dispatches were learned to have remained adversely impacted.
News ID: 6353 Publish Date : 2019/09/02
The SE Asian billet import market reported dull this week. No deals were reported this week. The SteelMint analyzed the dim-witted situation in the region and learned; there is disparity between the offers and the buying interest, which has left the SE Asian market with no deals.
News ID: 6287 Publish Date : 2019/09/03
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
This was the consecutive week of the month in which the country witnessed no trades. The billet export offers from the country also got soften to USD 380-385/MT, FoB, down USD 5/MT against last week. The prime reason for the trade silence in the country is dipping raw material prices.
News ID: 6199 Publish Date : 2019/08/27
In recent conversations with industry participants, SteelMint learned that imported scrap prices to South East Asia have observed correction after returning from Eid holidays amid recent softening in finished steel & billet steel futures in China.
News ID: 6194 Publish Date : 2019/08/27
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 learned from sources that Taiwan’s domestic scrap and rebar prices have finally come down after remaining flat for 5 weeks’ period.
News ID: 6159 Publish Date : 2019/08/25
Fortescue Metals Group - world's 4th largest iron ore producer has increased the sub-grade iron ore discount for SSF (super special fines) for Sep’19. SteelMint has learned from the market participants that FMG increased its discount for SSF low-grade fines for the month of Sep’19 to 11% from 6% in Aug’19.
News ID: 6158 Publish Date : 2019/08/25
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
SteelMint learned in recent conversations with industry participants that imported scrap offers to Pakistan have softened further after the market inquiries resumed recently post-Eid holidays, as global markets have been on a downtrend since a couple of weeks, along with low demand in the domestic market. Trades are expected to pick up in the coming week as the market has observed slow returning.
News ID: 6154 Publish Date : 2019/08/25
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
Neelachal Ispat Nigam Ltd (NINL), a public sector steel entity and largest merchant supplier of steel-grade pig iron in India likely to shut down its 700,000 MTPA Coke oven plant on financial crisis, SteelMint learned from market participants.
News ID: 6047 Publish Date : 2019/08/19
This week, Iranian billet export market was reported hushed. No deals were witnessed and mills are in no rush to conclude October deals. Also, country’s billet export offers are standing still at USD 385-390/MT, FoB identical as last week. The prime reason for the market reticence is Eid Festivity.
News ID: 6037 Publish Date : 2019/08/18
NMDC Ltd- India's biggest iron ore producer, has today announced a roll over in its iron ore prices for August deliveries, as per market sources report to SteelMint .
News ID: 6029 Publish Date : 2019/08/18
Australia - world's largest iron ore exporter has recorded fall in iron ore shipment in July’19, according to the vessel line up data maintained with SteelMint . Australia's iron ore export shipments recorded at 71.03 MnT in July'19, down 7% as compared to 76.31 MnT in June’19.
News ID: 5995 Publish Date : 2019/08/17