Monthly Archives: December 2018

Odisha’s Serajuddin Mines Cut Iron Ore Lump Prices – Sources

SteelMint has learnt from its market sources that Odisha’s second largest merchant miner- Serajuddin mine has cut its iron ore lump prices by INR 500/MT w.e.f 31st Dec’18. As per sources, the miner has cut prices of 5-18mm (Fe 63%) from INR 4,300/MT to INR 3,800/MT (ex-mines, including Royalty, DMF & NMET). However, the prices for fines remain stable and is assessed at around INR 1,800/MT (ex-mines, including Royalty, DMF & NMET) for bulk bookings.

Prior to this the miner had cut prices by INR 400/MT and fines prices by INR 300/MT w.e.f 20 Dec’18. Before this price cut announced by the miner was of INR 300-400 per tonne on 28 Nov’18. So this is 3rd price cut made by the miner in a month’s time.

As per data maintained with SteelMint, Serajuddin iron ore production increased significantly by 84% to 0.79 MnT as against 0.43 MnT in Oct’18. There has been an increase in monthly production of Serajuddin mines as it has started operations at another pit which was closed for quite some time owing to technical issue.

Another miner, Essel Mining and Industries have also announced fourth price cut within a month’s time on 28 Dec’18.The miner had reduced iron ore prices by INR 350/MT in lump and fines by INR 200-300/MT. Prior to this the miner reduced lump prices by INR 400/MT and fines by INR 300/MT on 17th Dec’18.

Domestic Iron ore prices have dropped upto 34% in last 2 months on supply pressure. Fines prices have come down by 34% while lump prices have come down by 25%. Key merchant miners in Odisha are looking at scaling up their iron ore production in order to utilize their remaining Environmental Clearance (EC) approved for the financial year 2019 (Apr 2018 – Mar 2019)


Iran Exported 20,000 MT Steel to Turkey via Rail Route

Iran, one of the largest steel exporter in MENA region has recently exported steel to Turkey through rail route. As per sources, the nation has exported around 20,000 MT steel products (mainly rebars) to Turkey via railway within the past two months. Iran used to export steel products to the neighboring state via road before. Iran has recently improved it railways by implementing advanced technology to support high speed rails as well.

According to Mr. Shapour Arsalani, Director General of Azarbaijan Railways General Bureau, the shipment was loaded in the central provinces of Kashan and Isfahan, and was carried to Turkey via Mahabad station using 439 cargo wagons.

Mr. Arsalani added, “This was the first time Mahabad rail station, in the northwestern province, unloaded a rebar consignment. Iran aims to modify the methods of transporting big consignments to the neighboring and European countries in a bid to facilitate and pace such procedures.”

He concluded, “Plans are high on the agenda to export other products such as sea salt, coal and tar via Tabriz-Turkey railway. Currently, Iran sends these items to foreign markets using trucks.”

Iran Rebar and Beam Export Increase Multi Fold

Iran has exported 172,000 MT beam during the eight months of current Persian year (21 mar-21 Nov’18) by registering a growth of 52% Y-o-Y against 113,000 MT exported by the nation during the same period of last Persian year.

On parallel lines, the nation has exported 976,000 MT rebar during the current Persian year by registering a growth of 173% Y-o-Y against 358,000 MT export in last Persian year.

Esfahan Steel Company (ESCO) was the major finished long steel exporter during the period. The company exported 661,778 MT of steel during the eight months of current Persian year. Exports were down by 11% Y-o-Y. Major product exported by ESCO were Ingot (188,803 MT), rebar (113,904 MT), followed by beam (76,907 MT) and wire rod (29,678 MT).

Inputs taken from Mehr News


Daily Update: Indian Semis Offers Rise Further

Indian Steel prices continue to rise, however the trade activities was limited today owing to holidays mood among the participants.

As per daily assessment, the Rebar & Billet prices surge approximately by INR 100-300/MT, while Sponge iron fluctuates by INR 100/MT in major markets of Central, East, North & Western India.

The industry participants are assuming, domestic prices likely to remain supported as there is no selling pressure with the mid size mills and assumptions are high for further improve demand.

SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 30,900-34,700/MT (USD 442-497) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,900-21,200/MT (USD 285-304); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

 On 31st December 2018 (Monday) INR to USD exchange rate stood at INR 69.75.

 ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 33,320/MT & last traded (IST 18:22) at INR 33,340/MT.

 BSE Sensex closed at 36,068(-8) on Monday, as against last day (Friday) at 36,076(+269).

NSE Nifty50 index was closed today at 10,862(+2).

Raw Materials

Odisha Mining Corporation (OMC) – a state-owned miner is to conduct next e-auction for 390,000 MT iron ore fines on 05th Jan’19.

Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 320/MT, CFR Nhava Sheva.

— Local manufacturers in Raigarh offered 60-14 Silico Manganese at around INR 68,000/MT ex-plant.

Semi Finished

Raipur, Central India based Integrated plants have rolled over Sponge P-DRI prices to INR 19,500-19,600/MT ex-plant.

Rashmi Metaliks in Durgapur has increased sponge prices by around INR 100-200/MT and today offers for P-DRI heard at around INR 19,900/MT-Sources.

— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,000/MT & Billet at INR 30,800/MT ex-plant.

 Raigarh based Singhal Steel offered P-DRI at INR 19,000/MT ex-Raigarh, an official reported. Also, the company offered Billets at INR 31,800/MT FoR Raipur.

— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 20,100/MT & 20,500/MT ex-plant, Karnataka; an official reported.

BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,700-19,800/MT ex-Bellary.

Wire Rod & Pipe

Raipur based wire rod manufacturers kept offers unchanged and trade discount through the manufacturers/suppliers is around INR 500/MT. The offers for 5.5mm wire rod is hovering around INR 38,400/MT ex-Raipur & INR 38200-38,500/MT ex-Durgapur.

Rashmi Metaliks offers unchanged and reported at INR 37,800/MT (5.5 mm), ex-Kharagpur, east India.

— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,000/MT ex-plant. (basic & excluding GST).

Mandi Gobindgarh, North India based ERW pipe manufacturers reduced prices by INR 200/MT & offers reported at around INR 40,000/MT ex-plant & excluding GST.

Rebar (12 mm)

Raipur based – GK TMT offering at INR 37,700/MT, offers unchanged.

Raipur based – SPEED TMT unchanged their offering at INR 35,500/MT.

Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) unchanged their offering at INR 38,600/MT FoR.

Gujarat based, Keyur Ispat Ltd unchanged their offering at INR 38,400/MT.

Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged their offering at INR 36,800/MT.

Chennai based ARS Steel (ARS 500 D) unchanged their offering at INR 41,000/MT.

Note – The prices mentioned above are ex-work, excluding GST & changes are on day basis.

Reference prices as on 31st December 2018

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 26,500 26,400 26,600 – 200 26,000 26,600
Ex-Mumbai HMS(80:20) 25,500 25,400 25,700   0 25,200 25,700
Ex-Chennai HMS(80:20) 24,000 23,900 24,200   0 24,000 25,300
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 21,150 21,100 21,200 + 150 19,700 21,500
Ex-Rourkela Mix, FeM 80%, +/-1 20,000 19,900 20,100   0 19,800 20,700
Ex-Raipur Mix, FeM 80%, +/-1 21,100 21,000 21,200   0 21,000 21,700
Ex-Bellary Lumps, FeM 80%, +/-1 19,900 19,800 20,000 – 100 20,000 20,500
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 19,950 19,900 20,000 + 150 18,500 20,500
Ex-Raipur Lumps, FeM 80%, +/-1 19,600 19,500 19,700   0 19,500 20,200
Ex-Bellary Lumps, FeM 80%, +/-1 19,550 19,500 19,600 – 50 19,600 19,800
Ex-Hyderabad Lumps, FeM 80%, +/-1 20,300 20,200 20,400   0 20,400 20,300
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 34,350 34,300 34,400 + 500 32,850 34,550
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 31,700 31,600 31,800 + 200 29,800 31,250
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 30,600 30,500 30,700 + 200 29,600 30,400
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 30,900 30,800 31,000 + 100 30,350 30,800
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 33,250 33,200 33,300 – 50 33,200 32,900
Billet Ex-Mandi Gobindgarh 125×125 mm, IS 2831 34,650 34,600 34,700 + 450 33,000 34,950
Ex-Durgapur 125×125 mm, IS 2831 31,950 31,900 32,000 + 50 30,300 31,600
Ex-Rourkela 125×125 mm, IS 2831 30,900 30,800 31,000 + 100 30,000 30,700
Ex-Raipur 125×125 mm, IS 2831 31,950 31,900 32,000 + 150 30,750 31,200
Ex-Ahmedabad 125×125 mm, IS 2831 33,900 33,800 34,000 + 150 33,000 33,200
Ex-Mumbai 125×125 mm, IS 2831 33,450 33,400 33,500 – 50 33,400 33,100
Ex-Chennai 125×125 mm, IS 2831 33,200 33,000 33,300 – 300 33,500 33,800
Ex-Hyderabad 125×125 mm, IS 2831 33,000 32,900 33,100   0 32,300 32,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 37,800 37,600 38,000 + 200 36,800 37,400
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 36,800 36,600 37,000 + 300 35,200 37,000
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 35,400 35,200 35,600   0 34,700 35,000
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 36,700 36,500 36,900   0 36,500 36,400
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 37,500 37,400 37,800   0 37,800 38,200
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 37,500 37,300 37,700   0 36,700 37,000
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 38,300 38,100 38,500 + 400 36,600 37,900
Ex-Raipur Wire Rod(5.5 MM) 38,400 37,700 38,400   0 37,800 38,300

Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research


Iranian Domestic Billet Offer Remains Volatile

After a downfall of domestic billet offers for almost 2 weeks, market recovered and offers went up a bit last week. Still market participants expect downward trend of billet in Iran market continue in coming weeks.

As per SteelMint’s assessment, domestic billet offers during the beginning of week 52 (22 Dec- 27 Dec’18) was noted to be around IRR 28,290/KG (USD 674/MT). On next day, offers increased to IRR 30,100/KG (USD 717/MT). During the mid-week, offers went up further to IRR 30,280/KG (USD 721/MT). Towards the end of week billet offers started declining, domestic market offers were noted to be around IRR 29,400/KG (USD 700/MT).

IR Steel quoted, “Market was faced with some positive changes such as canceling zinc trade limitations at IME and its export obstacles improved. DRI export also became free. But slab and billet export still are in some troubles. Many market participants expect downward trend of billet in Iran market continue in coming weeks. A main reason is DRI price which has declined by 10% to USD 291/MT. This downward trend has made market players more worried and staying out of the market”.

Commodities 22/12/2018 23/12/2018 24/12/2018 25/12/2018 26/12/2018
Scrap          19,960          20,670          22,210          21,480          23,430
Billet          28,290          30,100          30,280          30,030          29,460
Rebar          33,880          35,360          36,780          36,610          36,520
Difference between Scrap-Billet            8,330            9,430            8,070            8,550            6,030
Difference between Billet-Rebar            5,590            5,260            6,500            6,580            7,060

Source: Planner
Unit in IRR/KG

Domestic Scrap and Rebar Offers Went up

Domestic scrap offers during week 52 were noted to be around IRR 19,960- 23,430/KG (USD 475-558/MT). Scrap offers increased almost by 10% W-o-w. On parallel line, rebar domestic offers were down in week 52. As per SteelMint’s assessment domestic rebar offers were noted to be around IRR 33,880- 36,780/KG (USD 807-876/MT)


Odisha: Iron Ore Production Up 13% in Nov’18

Odisha – India’s largest iron ore producing state has recorded Nov’18 production at 10.4 MnT, up 13% as compared to Oct’18 production at 9.21 MnT, according to the provisional data of Odisha Govt. maintained by SteelMint. The figures include the type of material – fine, lump, and concentrate.

On yearly basis, Nov’18 production increased 14% as against Nov’17 production at 9.11 MnT.

Domestic Iron ore prices have dropped upto 34% in last 2 months on supply pressure. Fines prices have come down by 34% while lump prices have come down by 25%. Key merchant miners in Odisha are looking at scaling up their iron ore production in order to utilize their remaining Environmental Clearance (EC) approved for the financial year 2019 (Apr 2018 – Mar 2019)

Rungta Mines – India’s largest private merchant miner produced 2.2 MnT iron ore from its mines in Odisha in Nov’18, up 12% M-o-M as against 1.97 MnT in Oct’18.

Tata iron ore production stood at 1.15 MnT and SAIL at 0.84 MnT (down 2% on monthly basis).

Iron ore production of state-owned miner- OMC marked significant rise by 29% at 0.94 MnT for the month as against 0.73 MnT in Oct’18.

Serajuddin production up significantly by 84% to 0.79 MnT as against 0.43 MnT in Oct’18. There has been an increase in monthly production of Serajuddin mines as it has started operations at another pit which was closed for quite some time.

KJS Ahlualia and AMTC recorded significant increase in production for the month at  0.56 MnT and 0.34 MnT respectively.

Odisha Mine-wise Iron Ore Production:

 Mines Nov’18 Oct’18
 Rungta Mines 2.2 1.97
 Tata 1.15 1.16
 O.M.C. 0.94 0.73
 R.P.Sao 0.91 0.78
 SAIL 0.84 0.86
 Seerajudin 0.79 0.43
 Essel Mining & Industries 0.6 0.84
 KJS Ahluwalia 0.56 0.37
 A.M.T.C. 0.34 0.14
 Indrani Patnaik 0.33 0.35
 K.N.Ram 0.25 0.21
 Others 1.49 1.38
 Total 10.4 9.21

Source: Govt. of Odisha
Provisional data
Quantity in MnT


Thailand: Ferrous Scrap Imports Down 7% in November

Scrap exports from Australia fall sharply by 88% M-o-M while that from US jump almost three folds in Nov’18.

As per recently released customs data, Thailand imported 138,870 MT ferrous scrap in Nov’18, down 7% M-o-M as against 148,960 MT in Oct’18. On yearly basis, scrap imports recorded a drop of 11% Y-o-Y in Nov’18 as against 155,663 MT ferrous scrap in Nov’17.

A marginal fall in ferrous scrap imports could be attributed to sharply declined exports from Australia and Panama despite a jump in exports from US on a monthly basis.

Notably, the country witnessed a third successive fall in scrap imports despite a correction in global scrap prices amid dull finish steel demand in the country. Moreover, sentiments turned bearish in semi-finish steel imports witnessing sharp fall in Pig iron imports (89% M-o-M) in Nov’18.

United States remained the largest scrap supplier in Nov’18 – United States stepped up back at the top supplier position supplying more than twice volume in Nov’18. Exports stood at 69,027 MT in Nov’18, up 203% M-o-M as against 22,760 MT in Oct’18. It occupied the highest 50% share in total imports.

Myanmar remained the second largest supplier observing stability in exports to Thailand. It supplied 11,157 MT ferrous scrap occupying 8% share in Nov’18. Philipines also observed stability on a monthly basis supplying 9,916 MT ferrous scrap in Nov’18.

Followed by other prominent exporters were Panama (6,740 MT, -47% M-o-M), Dominican Republic (6,178 MT, +34% M-o-M), Costa Rica (3,620 MT, -64% M-o-M) and Australia (3,432 MT, -88% M-o-M).

Crude steel production fell 19% in Nov’18 – According to WSA, during the eleven months of CY18 Thailand has produced 4.01 MnT crude steel as against 4.08 MnT during the same period last year. While crude steel production decreased 19% M-o-M to 0.30 MnT in Nov’18 as against 0.37 MnT in Oct’18.

Total Semi finish imports down 41% M-o-M in Nov’18 – The country imported 116,741 MT billet in Nov’18, down 12% M-o-M against 133,073 MT in Oct’18. On the other hand, pig iron imports plunged sharply against the last month. The country imported 8,904 MT pig iron in Nov’18 as against 80,562 MT in Oct’18.

Thailand’s ferrous scrap imports up 15% during Jan-Nov’18 – Thailand imported 1,510,228 MT ferrous scrap during Jan-Nov’18, up 15% Y-o-Y as against 1,317,924 MT ferrous scrap during the same period last year.

Thailand steel industry is majorly dominated by rolling mills and most of them make use of electric arc furnace route thus making the country a major scrap consumer. Few of the major steel include G Steel, Tata Steel Thailand, Sahaviriya Steel Industries PLC etc.

Country-wise Thailand ferrous scrap imports –

Country Nov’18 Oct’18 % M-o-M Change Nov’17 % Y-o-Y Change  Jan-Nov’18 Jan-Nov’17  % Y-o-Y Change
United States 0.07 0.02 250.00% 0.04 75.00% 0.44 0.41 7.32%
Myanmar 0.01 0.01 0.00% 0.01 0.00% 0.18 0.03 500.00%
Australia 0 0.03 -100.00% 0.01 -100.00% 0.13 0.10 30.00%
Panama 0.01 0.01 0.00% 0.01 0.00% 0.07 0.04 75.00%
Trinidad & Tobago 0 0 _ 0.01 -100.00% 0.06 0.03 100.00%
Others 0.05 0.08 -37.50% 0.08 -37.50% 0.63 0.71 -11.27%
Total 0.14 0.15 -6.67% 0.16 -12.50% 1.51 1.32 14.39%

Quantity in MnT,
Source: SteelMint Stats


South Korea Finish Long Steel Imports Slump 14% in November

As per custom data, South Korea has imported about 0.19 MnT of Finish long steel in Nov’18, down sharply by 14% M-o-M as against 0.22 MnT in Oct’18.

Further on yearly comparison, finish long steel imports dipped by 17% as compared with 0.23 MnT in Nov’17.

On a cumulative basis, the country’s total finish long steel imports during Jan-Nov’18 stood at 1.92 MnT, down by 33% which was about 2.87 MnT in Jan-Nov’17.

China remained the largest exporter of Finish long steel to South Korea during Jan-Nov’18, with a contribution of around 46.94% (0.90 MnT), followed by Japan 35.44% (0.68 MnT), Vietnam 9.93% (0.19 MnT) & Taiwan 3.99% (0.08 MnT).

Prior to this in CY17 (Jan-Dec), the country’s finish long steel imports was at around 3.06 MT.


South Korea has exported about 0.2 MnT of Finish long steel in Nov’18, stable on monthly basis. However on Y-o-Y basis, country’s export incline by 11% in Nov’18 as against 0.18 MnT in Nov’17.

During the Jan-Nov’18, country’s total finish long steel exports stood at 2.32 MnT, increased by 6% than the 2.18 MnT in Jan-Nov’17.

Japan remained the largest exporter of finished long steel to South Korea during Jan-Nov’18, with a contribution of around 10.38% (0.24 MnT), followed by Malaysia 9.57% (0.22 MnT), Vietnam 9.12% (0.21 MnT), Canada 8.19% (0.19 MnT).


— Currently, the rebar price range in the South Korea’s distribution market is between USD 638/MT to USD 697/MT, as per SteelDaily reports.

— South Korea’s leading EAF steelmaker – Hyundai Steel has booked another bulk scrap cargo from the US (equivalent to HMS 1) at USD 313/MT, CFR South Korea for Mar’19 delivery. Hyundai Steel’s scrap import prices have moved down by USD 12/MT against last bulk contract concluded from the US at USD 325/MT, CFR for Feb’18 shipment.

— South Korea’s Billet imports has dipped from Japan by 45% M-o-M to 0.05 MnT in Nov’18 in comparison with 0.08 MnT in Oct’18.


India: OMC Reduces Base Price for Upcoming Iron Ore Fines E-auction

Odisha Mining Corporation (OMC) – a state-owned miner is to conduct next e-auction for 390,000 MT iron ore fines on 05th Jan’19. The material put under the hammer is from Gandhamardan, Daitari, and Koira mines. No traders shall be allowed to take part in the e-auction.

The base prices for fines have been reduced by INR 100/MT from each mines as against the base price of previous e-auction held on 05 Nov’18. However compared to bid price of last e-auction, base prices have come down by upto INR 500/MT.

The base price for fines offered from Daitari mines is at INR 2,300/MT, down 4% as against INR 2,400/MT in last e-auction. The base price for material offered from Gandhamardan and Koira mines is at INR 1,200/MT and INR 1,050/MT respectively.

Price comparison of OMC iron ore e-auctions-

 Mines Size  Fe (%) Base Price as on 05th Sept’18 Base Price as on 05th Nov’18 Bid price as on 05th Nov’18 Base Price as on 05th Jan’19 Quantity
(mm)  (INR/MT)  (INR/MT)  (INR/MT)  (INR/MT) (MT)
 Gandhamardan -10 60-62 1,300 1,300 1,650-1,700 1,200 120,000
 Kurmitar (Koira) -10 62-60 1,150 1,150 1,500-1,550 1,050 150,000
 Daitari -10 64-62 2,400 2,400 2,400-2,450 2,300 120,000
 Total 390,000

Base prices in INR/MT on ex-mines basis; including royalty
Source: SteelMint Research

As per data maintained with SteelMint, OMC iron ore production for the month of Nov’18 increased by 29% to 0.94 MnT as against 0.73 MnT a month ago. In FY18, the miner recorded production of 7.92 MnT. The miner is planning to increase iron ore production in the coming years from its mines.

Odisha iron ore prices under pressure of increasing production:

Amidst less buying interest, Odisha miners have slashed iron prices. Iron ore trade prices in Odisha have come down by INR 500-600/MT in lump and by INR 400/MT in fines. Odisha iron ore prices remain under pressure as miners scale up production to utilize EC limits.


Indian Finish Long Steel Production Inch Down in November

Finish long steel output in India has moved down slightly by around 1% in Nov’18 (M-o-M), as per data released by Joint Plant Committee (JPC).

India’s finish long (Bar & rods and Structures) steel production by large and medium/small scale mills stood at 4.08 MnT in Nov ’18 as against 4.11 MnT during Oct’18. Hence, the overall production has lessened by 0.72% M-o-M.

However on Y-o-Y basis, Nov’18 figures increased by around 7.65% as compared to 3.79 MnT in Nov’17.

On monthly comparison in Nov’18, Finish long production by the large scale makers i:e; SAIL registered around 0.39 MnT (-7.14%) followed by RINL 0.37 MnT (-5.12%), Tata Steel 0.27 MnT (+8%), JSW 0.33 MnT (+26.92%) and JSPL 0.14 MnT (0%).

Further, the major contribution in Nov’18 registered by medium/small scale producers at 2.58 MnT, shrunk by 3% as against 2.66 MnT in Oct’18.

It seems the production has fallen owing to limited domestic demand as Rebar price range narrowed down upto INR 1,700/MT or equivalent to 4% in Nov’18. In addition limited export inquiries among the manufacturers led to measured production of long steels.


— During Oct’18, Finish Long steel exports have been shrunk by 22.25% and registered at 47,074 MT against 60,546 MT in Sep’18.

— The Nepal notified as largest importer in Oct’18 and registered at 31,756 MT against 34,213 MT in Sep’18.


Vietnam: Imported HRC Market turns Silent Amid Ongoing Holidays

Imported HRC market in Vietnam remained silent amid less trades over holidays. Most of the global markets are closed amid New Year holidays. Also in Vietnam ongoing public holidays kept market silent.

However as per SteelMint’s assessment, imported HRC offers have remained unmoved against the offers assessed last week.

1.HRC (SAE 1006) 2-3mm / Chinese offer- Benxi Steel : no fresh offers were reported.

2.HRC (SAE 1006) 2-3mm / Chinese offer- Rizhao Steel is at USD 480/MT CFR Vietnam. Towards beginning of last week offers were reported at USD 490/MT, CFR which later fell to USD 480/MT towards week close.

3. HRC (SAE 1006) 2-3mm / Chinese offer- BaoSteel is at USD 495/MT, CFR Vietnam.

4.HRC (SAE 1006) 2-3mm /Indian offer – Indian mills are heard offering at USD 480-490/MT CFR Vietnam. Some reports confirmed deal of 20,000 MT HRC for Jan shipment concluded at USD 475/MT, CFR Vietnam.

5. Vietnam’s based Formosa is offering HRC (SAE 1006,skin pass) in the range of USD 480/MT CFR basis for Feb’19.