Ferroalloys producer and exporter Mortex India has been accorded 'Four Star Export House' status by DGFT for five years from 2021. The Star Export House tag is conferred on exporters who have excelled in international trade and successfully achieved a certain amount of export performance in two out of three financial years. India exported 1.70mn t of ferroalloys in FY21, out of which 13% was exported by Mortex.

CRCA busheling scrap prices saw slight changes at locations in the north and west, whereas in the south prices remained firm on a d-o-d basis. The near-term price range may continue to range sideways on average working. Prime grade is usually meagre in comparison with regular grades such as heavy melting scrap (HMS 70:30 or 80:20), trade participants informed SteelMint.

P-DRI (FeM 80%) prices in Raipur fell by INR 200/t to INR 35,300/t exw today. Lower bids continue to weigh on sponge iron prices. About 2,000 deals were reported at INR 35,200-35,400/t against offers at INR 35,500-35,700/t on exw and FOR Raipur basis. Although a few plants claimed deals at INR 35,600-35,700/t exw, SteelMint couldn't verify these deals before publication.

Ferrous scrap import prices into Pakistan have increased by around $10/t due to a number of deals happening yesterday. Meanwhile, a few offers were heard at $555-560/t CFR. A few mills booked around 12,000 t of UK-origin shredded scrap at $550/t CFR Port Qasim, sources reported. However, as per SteelMint assessment, shredded scrap of UK/EU-origin stands at $555/t CFR Port Qasim.

The IF rebar market witnessed weak buying enquiries and trading activity today. Despite dull demand in the spot market, manufacturers are not willing to reduce rebar offers in the hope of improvements in transaction as well as previous booking orders that are supporting prices. High prices and weak sentiments in the semi-finished steel market have put a brake on spot trading activity.