Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
In January, Brazilian distributors saw a rise in flat steel product sales, with numbers reaching 329,900 metric tons (mt), up from 263,600 mt in December, according to INDA. Purchases by distributors also rose by 25.9% to 344,800 mt, while inventory levels increased by 1.7% to 894,200 mt, equivalent to 2.7 months of consumption. This level is comfortable and lower than the historical average of 3.0 months.
January imports, including heavy plates, HRC, CRC, zinc-coated, HDG, pre-painted, and Galvalume, dropped by 52.4% from December to 131,800 mt. Compared to January 2023, sales increased by 6.0%, purchases by 7.8%, and imports declined by 25.6%.
INDA's expectations for February 2024 are a 3% decrease in both purchases and sales from January. During a conference with analysts, INDA's president, Carlos Loureiro, confirmed that Brazilian producers raised their prices by 5 to 6% in January. He noted that the domestic market premium for HRC compared to international prices is currently in the range of 16 to 17%.
According to Icra, domestic demand growth for non-ferrous metals like copper and aluminum is project...
Non-Ferrous 01-Apr-2024
The anticipated disruption to the iron ore market from a surge in China's scrap steel usage has yet...
Asia 13-Feb-2024
Analysts anticipate a decline in global thermal coal prices in 2024, primarily attributed to an over...
Raw Material 01-Feb-2024
China’s response to tariffs imposed during former U.S. President Donald Trump’s administ...
China 17-Feb-2025
India is looking to boost domestic steel production capacity threefold to 500 million tonnes per ann...
Ferrous 10-Apr-2024
In accordance with United States Geological Survey (USGS) publications, the Indian Bureau of Mines w...
Notification 22-Feb-2024