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Weekly Update: Secondary Steel Market Rebounds, Primary Continues to Remain Stable (May Week 3)

Weekly Update: Secondary Steel Market Rebounds, Primary Continues to Remain Stable (May Week 3)

During May's third week, India's secondary steel market initially struggled but later saw price surges due to improved demand. Primary steel market remained stable with ongoing firm prices. Raw material prices held strong, while ferroalloy prices dipped before stabilizing.
EC opposes the circumvention of safeguard measures on stainless steel plates from Indonesia

EC opposes the circumvention of safeguard measures on stainless steel plates from Indonesia

The European Commission extends anti-dumping and anti-subsidy measures to stainless steel imports from Taiwan, Turkey, and Vietnam, evading safeguards on Indonesian steel. This follows investigations revealing transhipment practices.
How Will Higher Raw Materials Impact Indian Silico Manganese Market?

How Will Higher Raw Materials Impact Indian Silico Manganese Market?

Indian silico manganese prices are poised to remain supported due to soaring raw material costs, particularly manganese ore. The industry anticipates sustained demand driven by buoyant steel prices. Market participants brace for continued support on silico prices amidst global ore price hikes and supply constraints.
Stainless steel market in China expected to fluctuate on high side

Stainless steel market in China expected to fluctuate on high side

Post Labor Day, China's stainless steel futures market saw a surge due to optimistic sentiment and raw material costs. Macroeconomic benefits and favorable consumption data boosted futures, resulting in fluctuating transactions and market optimism.
India’s JSL Limited supplies alloy steel for Indian Navy’s torpedo systems

India’s JSL Limited supplies alloy steel for Indian Navy’s torpedo systems

Jindal Stainless Limited (JSL) supplied special alloy steel sheets for the Indian Navy's SMART system, enhancing their anti-submarine warfare capabilities. Developed by subsidiary Jindal Defence and Aerospace, these sheets withstand high pressure and temperature.
EU sets AD and CV duties on stainless CR products from three countries due to circumvention

EU sets AD and CV duties on stainless CR products from three countries due to circumvention

EU extends antidumping and countervailing duties on stainless steel cold-rolled products from Indonesia to include Taiwan, Turkey, and Vietnam after allegations of measures circumvention, following an investigation requested on July 3, 2023.
India’s MOIL Limited achieves highest-ever manganese ore output in April

India’s MOIL Limited achieves highest-ever manganese ore output in April

MOIL Limited hit a record monthly production of 116,000 mt of manganese ore in April, marking a 22% YoY growth. As per the company’s regulatory filing, sales also rose by 17% to 111,000 mt.
Rising Input Costs and Supply Shortage Spurts Silico Manganese Prices in India

Rising Input Costs and Supply Shortage Spurts Silico Manganese Prices in India

Indian silico manganese prices surged due to rising manganese ore prices and active demand. With a 2-year high, the recent spike reflects the market's concern over ore shortage. MOIL's manganese ore prices surged 25-40%, driven by reduced import shipments, prompting producers to raise prices.
Yusco rises stainless steel export prices for May

Yusco rises stainless steel export prices for May

Taiwan's Yieh United Steel Corp. (Yusco) plans to raise its stainless steel export prices by $100-$150 per ton for the 300 series in May. However, prices of 430 products and 316L product surcharges will remain steady.
UK car output falls in March as EV-transition gears up, says industry body

UK car output falls in March as EV-transition gears up, says industry body

UK's auto industry faces a 27.1% dip in car production as manufacturers transition to electric vehicle production. A further 6.2% decrease to roughly 940,000 units is expected this year due to model changeovers.

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