NEWS
IRON and STEEL   Iron Ore  

Indian Sponge Iron Exporters Turn Active Amid Falling Domestic Prices

Depreciating Indian currency has also supported exports. Indian currency has hit record low of 73.77 against USD.

Indian Sponge iron export offers to Bangladesh fall by about USD 20-25/MT on weekly basis. The prices have moved down on declining Indian domestic prices.

As per exporters in Kolkata, East India, near about 8,000 MT sponge iron booked for exports in last couple of days at an average price of USD 353-355/MT CFR Chittagong. As per them, now a days buying interest is better owing to higher global scrap offers to Bangladesh.

Meanwhile after the price corrections, the latest export offers for FeM 78-80 Sponge iron stood at around USD 330-335/MT CPT (dry port of India & Bangladesh) & USD 350-355/MT CFR Chittagong, Bangladesh. Although the price assessment during last week was about USD 360-365/MT CPT & USD 380-385/MT CFR Chittagong, Bangladesh. The prices fall about USD 20-25/MT week-on-week.

As per assessment, sponge iron prices in eastern India, fell by INR 1,500-2,000/MT (USD 21-28) in last one week and the latest offers for domestic buyers stood at around INR 22,000-22,200/MT (USD 298-301) ex-mill.

The local steel demand in India not up to the mark, also as the supply of sponge iron has improved amid increased productions, the prices falling significantly.

The latest offers for imported containerise shredded scrap from UK is assessed at around USD 372-380/MT, CFR levels which have remained unchanged on weekly premises. Amid less buying interest at these levels, limited deals were reported.

News No: 2387
Date: 2018/10/08 - 19:19
News Source: SteelMint

Indian Sponge Iron  Chittagong  steel  shredded scrap 

Comments:

Leave a Comment:

   
   
   
 

Iran to Mark 40th Anniversary of Revolution with 576 Industrial Projects

Iran will mark the completion of 576 industrial, mineral and trade projects during the Ten-Day Fajr (Dawn) celebrations (to start on February 01), to commemorate the 40 anniversary of the victory of the Islamic Revolution of 1979.
 

Iran to Open New Steel Mill

A new steel ingot production unit will open in the city of Sirjan, Iran’s province of Kerman, in early February, an Iranian lawmaker said, adding that the opening ceremony will be attended by First Vice-President Es’haq Jahangiri.
 

Vietnam’s Steel Imports Fall, Exports Surge in 2018

Vietnam’s steel import-export numbers are out and according to country’s customs data, Vietnam’s steel imports have registered a fall of 9.6% y-o-y basis in 2018 and is recorded at 13.6 MnT whereas in terms of value the same has increased by 9% in 2018 against previous year and is recorded at USD 9.9 billion.
 

South Africa Pig Iron Exports Rise in November

South Africa pig iron exports surge by around 12,500 MT (19.69%) M-o-M & 24,500 MT (48.34%) Y-o-Y in Nov’18 & recorded three month high, according to the customs.
 

European Union likely to Impose Definitive Tariffs on Steel Imports: Reports

According to the latest reports, European Union (EU) countries are likely to approve a scheme to limit steel imports in the 28-nations bloc on 16 Jan’19.
 

South Africa: Ferrous Scrap Exports Stable in Nov'18

As per recent customs data released, South African scrap exports have observed stability since Sept'18. The country exported 37,215 MT ferrous scrap in Oct’18, marginally up 2% M-o-M against 37,215 MT in Oct’18.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners