| Export and Import Levels | ||
| Steel export levels from India (WEEK 34) - 25 Aug, 2008 | ||
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IRON ORE The situation of iron ore has been effected very badly as Chinese mills are hardly buying at present. It is reported that the movement of iron ore fines from mines in Burwil area to ports has reduced a lot. Only big miners and exporters who have commitment to Indian Railways for certain volumes under Wagon Investment Scheme are moving iron ore fines to the ports and stock piling. The road transportation of iron ore to ports for exports has been reduced to a great extant. Smaller exporters are reported to have withdrawn from buying from mines. As a result, the availability for domestic consumption has increased and it is likely that domestic iron ore prices may go down on September 1st 2008, if not before. Few shipments by big iron ore miners and exporters have been reported last week at levels close to USD 130 per tonne FOB Paradip, against old contract. Indian exporters are reported to be holding to following levels 1. 63% Fe – USD 130 FOB Paradip 2. 60% to 62% Fe – USD 110 to USD 115 per tonne FOB Paradip Haldia is reported to be about USD 7 per tonne lesser PIG IRON It is reported that Rashtriya Ispat Nigam Limited received only one offer against their bid invitation for export of pig iron last week and have decided to go for re tendering the cargo. As per information received RINL received lone bid at USD 740.03 per tonne on FOB basis from Stemcor. As per information available with us, RINL had got USD 835 per tonne on FOB basis for July shipment and USD 808 per tonne on FOB for June shipment earlier, which they did not clear. HDG It is reported that most of the Indian galvanizer’s order books are very thin and they are finding it difficult to replenish them among the current situation. Due to dip in prices offered by Chinese, Ukrainian and Russian mills, buyers the market sentiment is very week, As a result most of the buyers are postponing their purchases. Thus the pricing situation is a bit confused and mills are eager to have firm bids at any price levels. It is also reported that some overseas buyers have started asking for renegotiations. The reported offers and firm bid levels are as under Offers for commercial quality HDG in 0.40-0.45mm were touching USD 1400 per tonne FOB, but buyers came back with firm bids which were less than USD 1300 per tonne FOB. Few orders have been reported to be booked in EU in the range of USD 1330 per tonne to USD 1350 per tonne FOB levels. PPGI Offers for PPGI in 0.40 mm were hovering around USD 1550 per tonne to USD 1560 per tonne on FOB basis but firm bids from overseas buyers were very low at USD 1470 per tonne to USD 1480 per tonne FOB levels due to weak demand from EU. As per information received, few small orders have been booked in the range of USD 1500 per tonne to USD 1510 per tonne FOB levels. SteelPrices-India has started this update on export levels this week on request from many its subscribers. We shall be adding more products in coming week. To get such updates from next week, please subscribe to the daily domestic benchmark product services of www.steelprices-india.com. | ||
| Today's News | ||
| Clips | ||
 | Japanese stainless output down in September | |
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| Chinese steel import applications to Europe stay high in October | |
| News And Trends | ||
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| Chinese CRC export price tends to level off | |
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| TISCO cuts stainless steel export price by USD 750 per tonne | |
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| Japanese SS mills pending price negotiation with Asian buyers | |
| Export And Import Levels | ||
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| Steel export shrinks to 379, 000 tonnes in October | |
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| Iron Ore prices may halve in 2009 on slump | |
| Trade Issues | ||
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| US slaps duties on China welded steel pipes | |
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| Indian forging industry opposes import duty on steel | |
