Iron ore & pellets –
- Odisha’s Essel Mining has further increased offers by INR 800/t in the lump and INR 700/t fines w.e.f 18 Apr ’21.
- SteelMint’s weekly index for Odisha iron ore fines (Fe 62%) moved up by INR 400/t to INR 7,100/t (ex-mines, including Royalty, DMF & NMET) following hike in offers by miners like Serajuddin, Sarda etc.
- Australia, the world’s largest iron ore exporter recorded iron ore export shipments of 73.68 mn t for Mar ’21. Shipments picked up by 20% on monthly basis against 61.07 mn t in Feb ’21.
Coal –
- Australian hard coking coal prices continued decreasing this week as sellers lowered their offers to attract buying interest. Latest prices for the Premium HCC and the 64 Mid Vol HCC grades are assessed to be at around $110.00/t (unchanged w-o-w) and $105/t (- 0.9% w-o-w) FOB Hay Point (Australia), respectively.
Scrap & Metallics –
- Vizag Steel – has reissued its ocean sale export tender for 30,000 t steel grade pig iron.The due date is 21 Apr ’21 and the shipment is scheduled for delivery in the first week of Jun ’21.
- SteelMint’s domestic steel scrap index decreased to INR 37,900/t DAP Mandi Gobindgarh. Limited trades in semi-finished steel and cautious approach to buying, adopted by market participants for future bookings, led to nominal changes today.
Semi-finished steel-
- SteelMint’s daily billet index has been assessed to be at INR 42,750/t (-550) exw Raipur on 17th Apr ’21, 16:00 IST.
Finished steel –
- Indian steel manufacturers have demanded for an extension in Production Linked Incentive (PLI) benefits beyond five years. The Indian govt. is in the process of setting up the operational details of PLI scheme for specialty steel.
Ferro alloys –
- Merafe’s attributable ferrochrome production from the Glencore Merafe Chrome Venture in Q1 CY 21 increased by 3% to 103,000 t from 100,000 t as compared to same period last year.
- Last week the price of HC ferrochrome continued to weaken and underwent a cumulative decline of around RMB 1,000/t ($153.35/t) since mid-March, blunted by the weighing pressure from tender prices of stainless mills, somewhat alloy oversupply and short of cost support from chrome ores.
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