Rashtriya Ispat Nigam Limited (RINL) reduced steel grade Pig Iron prices by Rs 500/MT for the second time in December (earlier on 19th Dec).
“The company is holding inventory in huge quantity at the moment, which is a total of 1,25,000 tons of Pig Iron.
Hence, we are offering the material at Rs 22,500/MT with discounts up to Rs 300/MT and are expecting domestic demand to get better at lower prices.
Pig Iron open tender floated in domestic market fetched bids at Rs 21,000 and the company is to take a decision on it by evening”, a senior official at RINL shared with SteelMint.
The Asian scrap market has been quiet this week as
most of the scrap exporters are on holidays.
India: Scrap offers to India remain firm at $395-400/MT
CFR for HMS (80:20 blend). Offers for HMS 1 are hovering at $405-410/MT CFR
Korea (for February shipments).
offers from US have increased by $10-15/MT CFR during last week for Taiwanese
importers. HMS 1&2 (80:20) was transacted at $377-382/MT CFR Taiwan, from
the previous weekÃ¢â‚¬â„¢s trade price at $367-375/MT CFR.
Taiwanese buyer booked one bulk cargo of US West
Coast (USWC) cargoes for February shipment at $405/MT CFR for HMS (80:20) and $410/MT
CFR for shredded scrap.
and Japanese exporters are enjoying the holidays resulting in the less supply
of the material”, said an importer based in Taiwan.
Chinese scrap offers rebound on
improved steel prices: Last week, Chinese domestic scrap prices
have increased on the back of steel prices upward trend.
eastern part of the country, scrap prices moved up by $10/MT (CNY 60/MT)
earlier last week. HMS over 6mm thick prices has reached to $447/MT (CNY 2,790/MT)
Ex mills and including 17% VAT.
part of the country has also witnessed the same margin of increment. Its price
for 6mm thick and up HMS reached to $464/MT (CNY 2,890/MT) Ex mills and
including a 17% VAT.
to the market sources, the upward trend of scrap prices in China is uncertain
and more or less it depends on the steel marketÃ¢â‚¬â„¢s performance.
Raipur re-bar market is expected to gain improvement post January second week, taking clues from improved demand from south India after New Year celebrations and Ã¢â‚¬Å“Makar SankrantiÃ¢â‚¬Â i.e. on 14th of January.
Traders expect that prices may touch Rs 35,000/MT at Raipur, increasing by Rs. 800/MT from current level. However, in the month of December, Raipur TMT prices have already gone up by Rs 1,500/MT and by Rs 500-800/MT in South India.
Last year, in 2nd week of January 2012 Raipur re-bar was traded in the range of Rs 37,000 to 37,500/MT.
Raipur TMT was traded at Rs 34,200/MT, today.
Q1 (April- June)- A firm quarter & some cheer
traded firm as consumers started to take positions and it helped in holding the
prices firm. Weakening Rupee against Dollar did bring some cheer for Indian
Exporters but they could not reap much benefits from it as buying interest from
Europe was almost nil owing to the Euro Zone crisis.
Q2 (July-Sep)- A quarter of cascading events
MOIL hiked manganese
ore prices by 12.5-15% for Q2
subdued as the seasonal slowdown in steel sector affected the domestic demand.
Enquiries in export market were also low as Europeans were on a holiday mood.
Cutback in steel
production levels lowered the buying interest.
fell to 50% following the increase in power tariffs by the State Governments
and prolonged major power cuts throughout India.
sharply as market was dull and there are very few buyers.
Tata Steel launched
IndiaÃ¢â‚¬â„¢s first branded ferro alloys- TATA SILICOMAG
Q3 (Oct-Dec)- Some improvement but only at the end
cutbacks subduded the much anticipated revival in Ferro Alloys market.
drive at most of the ferro alloys producing units pulled down silico manganese
and ferro manganese prices further in the Indian market
improved slightly by the end of the quarter on some improved demand in the
export market ahead of Christmas & New Year Holidays.
Billet is being offered at Rs 300/MT more across various locations in India, such as Chhattisgarh, Rourkela, Durgapur, Hyderabad and Jaipur.
“There has been no new work done at current price levels, though demand in re-bars is good. We are hopeful of some new booking orders by evening.
Offers might not improve further provided primary producers of steel lower prices in the first week of January.
Else, there are almost no chances that Billet makers might lower offers from the current levels”, said a trader in Chhattisgarh.
Spot coking coal prices increased on the back of increased prices
of steel and Iron ore and cold weather disrupting the domestic supply in china.
On the other hand some deals were concluded in the last week amid low liquidity
and suppliers being absent for New Year holidays.
Currently, the Premium Low-volume material is available at $160/MT FOB Australia and that of HCC 64 Mid-volume stands at $147/MT with
increased offer prices by $2/MT. Freight cost for Panamax vessel stands at
about $15 to India.
Market has seen a positive trend due to winter break said a
trader, however supporting the statement another trader said the market has
seen a positive trend and the uptick was determined by demand from mills rather
than buying from trader.
Steel futures on Shanghai exchange continue to remain strong (up by 2%) amid strong economic data and rising raw material prices. Sources tell that steel mills in China plan to raise domestic prices on strong demand and bullish sentiments.
Overall trading activities remained low on Christmas and New Year holidays. Chinese trades anticipate spot iron ore prices to stay strong in 2013 on hopes on economic growth by new leadership in China.
Indian 63.5/63 Fe iron fines remain firm at $140/t CFR levels and mill scale at $145/t CFR China.
Global steel market is expected to recover slightly by the beginning
of next year as weak demand and low prices have continue to squeeze companyÃ¢â‚¬â„¢s
earnings in the ongoing year, according to an industry survey conducted by the
According to the survey, which included 20 steel executives and analysts, world
steel production is to rise by 2.9% during 2013, supported by a 3.5% Y-o-Y increased
output in China.
2013 would be a “survival” year for many producers of the metal, said
Chairman of Duferco, worldÃ¢â‚¬â„¢s biggest steel trader. Ã¢â‚¬Å“Overall industry is to
remain with a large amount of over-capacity leading to low profit margins, with
consequent unsatisfactory results for the steel mills.Ã¢â‚¬Â He further added.
Steel makers based in the state of Karnataka will be offered a total of 3,76,000 MT of Iron ore by NMDC through e-auctions on the 5th of January, 2013, from its Donimalai and Kumarswamy mines.
The total quantity of 3,76,000 MT of iron ore includes:
Iron ore fines and iron ore lumps of 88,000 MT each and iron ore calibrated lumps of 2,00,000 MT
From Donimalai mines: 88,000 MT of iron ore lumps and 32,000 MT of iron ore fines
From Kumarswamy mines: 2,00,000 MT of iron ore calibrated lumps and 56,000 MT of iron ore fines
NMDC is to review iron ore prices for the month of January 2013 on the 2nd.
Market participants are hopeful that prices of the raw material might witness an upward movement, supported by rise in steel prices in the international market.
Silico Manganese & Ferro manganese prices in India
remain firm in the last week of 2012.
According to manufacturers in Raipur, Ã¢â‚¬Å“Market for Silico
Manganese & Ferro Manganese remain stable in the end of 2012. However,
market is improving and there is a positive impulse due to enquiries seen for
exports. So we expect to see some improvement in the market by 2nd
week of January.Ã¢â‚¬Â
Ã¢â‚¬Å“Market has bottomed out and I do not see any further down
side from here. There should be an improvement in January. But it will be
mostly in the export market, domestic market may continue to be stableÃ¢â‚¬Â, said
an exporter from Vizag.