In recent conversations with industry participants, SteelMint learned that imported scrap offers to Pakistan have come down marginally on slowing down of demand from buyers end. Less clarity globally and resistance from supplier yards to offer openly at lowered prices kept trade activities comparatively low.
News ID: 5686 Publish Date : 2019/08/02
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: 5644 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
In a big relief to the state based steel units, Department of Steel & Mines (Govt of Odisha) has permitted storage licenses for intermediate stockyards to state based end user units to facilitate smooth transition of mining leases that are due to expire by 31st March 2020.
News ID: 5544 Publish Date : 2019/07/29
In conversation with market participants, SteelMint learned that imported scrap offers to Bangladesh have softened on an overall lowered buying interest from South Asian markets in addition to low domestic demand. Following the decent restocking and bulk bookings in the last couple of weeks, the trade activities remained sluggish this week with few deals for maintaining inventories being observed.
News ID: 5514 Publish Date : 2019/07/28
Indian pellet export market remained less active so far this week. SteelMint in conversation with market participants learned that Chinese traders are adopting ‘wait & watch’ approach before making any new bookings.
News ID: 5512 Publish Date : 2019/07/28
SteelMint learned in recent reports that the uncertainty in global scrap prices and slowing down of finished steel demand in the domestic market has turned sentiments mixed in Taiwan this week.
News ID: 5480 Publish Date : 2019/07/25
South Korea’s steel major - POSCO announced its Q2CY19 results today. The major findings from the quarterly report are as follows:
News ID: 5479 Publish Date : 2019/07/25
Fortescue Metals Group - world's 4th largest iron ore producer has reduced the sub-grade iron ore discount for SSF (super special fines) for Aug’19. SteelMint has learned from the market participants that FMG lowered its discount stable for SSF low-grade fines for the month of Aug’19 to 6% from 7% in Jul’19.
News ID: 5473 Publish Date : 2019/07/25
As per vessel lineup data maintained with SteelMint , India’s first bulk ferrous scrap import vessel from Russia is expected to arrive at Kandla port, on 22nd July 2019.
News ID: 5469 Publish Date : 2019/07/25
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
SteelMint has learned from the market sources that Odisha’s state-owned miner- Odisha Mining Corporation (OMC) had scheduled an auction for sub-grade iron ore (Fe 56%) fines yesterday (i.e. on 18th Jul'19).
News ID: 5354 Publish Date : 2019/07/20
This week CIS billet export market remained slow witnessing less deals amid disparity between bids & offers. According to market sources report to SteelMint , current offers to SE Asia are at USD 455-460/MT CFR however buying interest is seen at USD 445-450/MT, CFR SE Asia levels. Prices have softened by USD 5-10/MT against last week.
News ID: 5352 Publish Date : 2019/07/20
SteelMint in conversation with trade participants shared that domestic PPGI prices witnessed further correction by upto INR 750/MT this week as arrival of monsoon season lead to bearish market sentiments and slowdown of trade activities in domestic market.
News ID: 5350 Publish Date : 2019/07/20
SteelMint in conversation with trade participants learned that domestic HRC prices continued to slump further over gloomy demand and limited trades happening in domestic market. Domestic HRC prices are hovering at around 1.5 years low.
News ID: 5302 Publish Date : 2019/07/19
Australia - world's largest iron ore exporter has recorded rise in iron ore shipment for second quarter CY19, according to the vessel line up data maintained with SteelMint . Australia's iron ore export shipments recorded at 222.49 MnT in Q2 CY'19, up 18% as compared to 187.91 MnT in Q1 CY'19.
News ID: 5300 Publish Date : 2019/07/18
Durgapur (eastern India) based pellet makers have raised offers following hike in sponge prices. SteelMint ’s reference pellet price assessment stands at INR 6,500/MT (delivered) up by INR 200-300/MT against INR 6,200-6,300/MT in last week.
News ID: 5250 Publish Date : 2019/07/17
SteelMint in conversation with market participants learned that Raipur (central India) based pellet manufacturers have increased their offers today by INR 200/MT. Current offers for Fe 63% grade to INR 7,000/MT (ex-Raipur, GST extra) as against last assessment at INR 6,800/MT.
News ID: 5242 Publish Date : 2019/07/17
South Korean based Hyundai Steel, in its Dangjin steel Mill can operate its blast furnace No 2 normally until the administrative authority comes out with probable alternatives to prevent fire or an explosion, as per Steel Daily.
News ID: 5241 Publish Date : 2019/07/17