Blog

Panic selling, lower offers weigh on prices Need-based procurement in domestic market The domestic silico manganese market witnessed a counterintuitive price correction this week, exhibiting a significant downward trend that defies recent market expectations. Key producing regions in India experienced...
Bids for some grades drop in OMC’s auction Tsingshan’s June’24 tender prices stable m-o-m European benchmark prices to be discontinued from June Indian high-carbon ferro chrome (HC60%, Si:4%) prices remained steady w-o-w, decreasing slightly by INR 100/t ($1/t) w-o-w compared...
Growing demand from Europe, China LME prices maintain stability In comparison to the previous assessment on 15 May, ferro molybdenum prices in India experienced a rise of INR 61,000/t ($733/t) w-o-w. Prices increased as there were reports of material shortage...
Bangladesh must tap into low-hanging fruit of rooftop solar
Bangladesh Needs to Harness the Potential of Rooftop Solar Energy Despite challenges, the sector offers a lot of promises The Bangladesh government raised electricity tariffs yet again in February 2024, following several adjustments in 2023. The government also increased gas...
Bangladesh proactively eyeing greener routes in power to achieve emission targets
Strong emphasis being given to solar energy Setting up of fresh coal-fired plants banned More hydropower imports from Nepal planned Bangladesh, a key South Asian player in the steel manufacturing and ferrous scrap import space, is taking a proactive multi-pronged...
Bridging the Energy Gap: Bangladesh's Strategic Pivot to Imported Coal
Imported coal usage increasing at power plants Scarce natural gas supplies support imports Thermal coal imports may touch 19 mnt by 2026 Morning Brief: In the midst of its escalating energy demand, Bangladesh has witnessed a significant 44% y-o-y increase in...
Bangladesh: Ferrous scrap imports witness contrasting trends in CY'23 amid macroeconomic headwinds
Bangladesh has emerged as one of the top three importers of ferrous scrap in South Asia. Over the last three years (2021-2023), bulk scrap imports have grown from 60% to 67% of the country’s total imports. Overall bulk scrap imports...
Eased LC issues help Bangladesh secure vessels Prices of both containers, tankers fall y-o-y Indian prices may increase amid scant inventory Morning Brief: The global ship-breaking market remained in deep waters in 2023. Total tonnage sunk 13% to 2.8 million light...
Chattogram, Matarbari to ease congestion, boost scrap imports Mills eye production increase to feed additional demand Urbanisation, improved global scenario to support mills Morning Brief: Bangladesh, a key South Asian country, is set to see an increase in steel demand in...
Over 60% of auctioned blocks in Odisha, Karnataka since the MMDR Amendment Act, 2015 Average auction premium at over 100% Production to increase as many auctioned mines may come onstream Around 100 iron ore mine blocks have been successfully auctioned...
State-run miner Coal India Ltd (CIL) has floated a calendar outlining the proposed coal volume to be offered under e-auctions during FY’24. The company is planning to sell 97.43 million tonnes (mnt) of coal, which is around 81% higher than...
Global demand for coking coal in steelmaking is expected to increase by around 2.25% y-o-y in 2023. World Steel Association’s (WSA) short-range outlook published in April this year predicts that world crude steel production is expected to increase by 2.3%...
In a recent development, certain Indian steel mills have started importing Australian iron ore fines in place of mainstream Brazilian iron ore concentrates. SteelMint has heard that Australian miners have started supplying low- to medium-grade iron ore fines (Fe57%-60.5%) to...
India recorded highest-ever coal production of over 890 million tonnes (mnt) in financial year 2022-2023 (FY’23), while Coal Ministry projections show that coal supply (domestic + imports) may rise to 1,692 mnt by FY’30. State-owned Coal India Ltd. (CIL) is...
Competitive bidding route gains traction from FY20 Odisha tops auctions chart since FY16 Odisha and Karnataka eye further auctions India’s mineral block auctions showed a marked upturn in 2022-23 (FY23) with successful bids more than doubling y-o-y. Madhya Pradesh led...
Decreased imports from China drag down total volumes Shipments seen from Lloyds as EC increases to 10 mntpa Weak global steel demand weighing on near-term exports Both iron ore and pellet exports fell m-o-m in May, reveals data maintained with...
DGFT allows low-sulphur pet coke blending of up to 10% in coke ovens Sulphur level fixed at below 3% for integrated steel mills High-quality coke to boost BF energy efficiency  The Director General of Foreign Trade (DGFT), under the Union...
Indonesia, the world’s largest coal exporter with a global share of around 45%, is on the verge of becoming a major supplier of metallurgical (met) coke thanks to hefty investments by Chinese companies. As per CoalMint estimates, over 17 million...
Govt mandates imports to meet peak power demand Shipments from Indonesia, Russia increase sharply Imports likely to remain high in Q1FY24 India’s coal imports increased sharply by around 18% y-o-y to over 237 million tonnes (mnt) in financial year 2022-2023...
The massive surge in coal consumption led by ever-expanding power demand has left India scrambling to secure adequate supplies despite a significant push seen towards increasing domestic production. In FY2022-23, the country scaled new heights in coal production. Till February,...
In a significant development, Chinese authorities have allowed all domestic companies to import Australian coal, thereby putting an end to ‘informal’ trade restrictions imposed in late 2020. Ports and customs offices have been told to allow Australian coal cargoes. Earlier...
Chinese coke plants are trying to increase prices of their products by cutting down production, as per recent reports. Chinese coke chemical companies plan to cut production by 30% to raise coke prices. This proposal was discussed at a recent...
China, the world’s top steel producer, is seeking to cut down on its consumption of coking coal for steel production in sync with its ‘dual carbon’ goal of peaking emissions by 2030 and attaining carbon neutrality by 2060. In line...
Despite the slump in world crude steel production in 2022, global seaborne trade in coking coal remained strong with imports of Coking coal and PCI increasing by 8% y-o-y to around 319 million tonnes (mnt) from 295 mnt in 2021,...
Russia’s seaborne exports of coking coal and PCI coal are estimated to have increased by a sharp 48% y-o-y to 47 million tonnes (mnt) in 2022 from around 32 mnt in 2021, as per provisional data maintained with CoalMint. Although...
Indonesia’s thermal coal exports increased by 9% y-o-y to 341.3 million tonnes (mnt) in calendar year 2022 (CY22), CoalMint data shows. Exports to India rose by 57% y-o-y. However, shipments to China and Vietnam recorded a decline in 2022. Indonesian...
The ever-growing demand for electricity has increased the reliance on coal globally, especially in emerging economies with underdeveloped renewable energy infrastructures and pressing energy security concerns. Bangladesh is a case in point. The country has increased procurement of imported coal...
State-run miner Coal India Ltd. (CIL) has attained new highs in terms of coal production. The company breached the 400-million tonnes (mnt) production mark in the quickest time since its inception. The milestone was attained on 24 November of the...
Australia’s Foreign Minister Penny Wong met with her Chinese counterpart Wang Yi in Beijing on 21 December, 2022, as the trading partners seek to stabilise their diplomatic relationship. Wong’s visit is the first by an Australian minister since 2019 and...
Iron ore exports from Karnataka are about to resume after a gap of 10 years, SteelMint heard from market sources. Exports from Karnataka were banned in 2012 by the Supreme Court, which was in effect till May this year, with...