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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...
India’s pellet-making capacity has expanded rapidly in recent years along with the steady rise in crude steelmaking capacity. SteelMint estimates that the country’s pellet production capacity currently stands at 126 million tonnes (mnt), which is 16% higher than 109 mnt...
Nepal, a landlocked nation, has registered significant growth in its metallics (sponge iron and pig iron) imports, as per data maintained with SteelMint. The country’s sponge iron imports rose by 120%, while pig iron imports rallied by 390% during January-October...
World ship recycling industry
The global ship-breaking or ship recycling industry has witnessed a major shift in recent years owing to environment concerns. On one hand, ship-breaking is a green process wherein a ship at the end of its life cycle is dismantled for...
Turkiye is one of the largest ferrous scrap importing countries in the world. Other key industries that contribute to the country’s economy include textiles, chemicals, cement, motor vehicles and construction. The country provides certain leverages for international trading and is...
Sponge iron imports by Bangladesh from India stood at 283,000 tonnes (t) in FY’22 (April’21-March’22). Although Bangladesh’s imports increased sharply from FY’21, volumes were still lower compared to the previous couple of fiscals. Imports, however, are expected to edge up...
South Asia’s imported scrap market rebounded in the past days post-Muharram holidays as buyers turned active to replenish the inventory amid limited domestic availability, and recovering demand before the onset of winter season. Meanwhile, imported scrap offers continued their uptrend....
Export tax impact blunts overseas sales’ edge Boron-added exports see sudden spurt Export tax retention may see Q2 volumes go below 2 mnt India’s finished steel exports, including semis, dropped 34% to 3.78 million tonnes (mnt) in the first quarter...
Depressed sponge iron demand in the Indian domestic market, coupled with elevated South African coal prices and limited availability of domestic coal for the non-power sector, has compelled Indian DRI producers to experiment with coal from Mozambique, Russia, and even...
Bangladesh set to increase steel melting capacity around 13 mnt by 2025 BSRM, AKS, GPH and many other mills are setting up additional capacity Bashundhara, Meghan & Akij entering steel business Bangladesh, one of the largest ferrous scrap importers in...
India’s iron ore consumption is slated to increase to 255-260 million tonnes (mnt) by financial year 2024-25 (FY25), as per a SteelMint forecast. In FY2019-20 (FY20), iron ore consumption was at around 185-190 mnt. This indicates that the jump in...
Iron ore and pellet export shipments fall 90% in June,hits 7-month low With export duties in place, shipments to remain low Iron ore and pellet production to get impacted India’s exports of iron ore and pellets have plummeted to the...
Exports to India rise to 6 mnt in first six months of 2022 Logistical hurdles may force Russian miners to cut production Recent RBI policy to facilitate coal trade with Russia Four months have slipped past since Russia invaded Ukraine...
Steel mills across the globe are staring down a desert land of dried-up demand, as the Russia-fuelled war rages on in Ukraine. Prices of gas, which power households and factories across the European Union, have surged 700% till date, as...
The Minister for Coal, Mines & Parliamentary Affairs, Pralhad Joshi, said on Tuesday that India’s coal production is set to cross the 900 million tonnes (mnt)-mark in financial year (FY)’23, as the country ramps up efforts to meet a phenomenal...
Iron ore sales in Karnataka dropped to their lowest level in over two years to a little under 1 million tonne (mnt) in June 2022 due largely to the confusion surrounding sales and dispatches following the Supreme Court’s verdict in...
India: Sponge iron producers eye alternative Mozambican coal amid tight domestic supply
At a time when sponge iron manufacturers in India continue to deal with domestic coal shortage, quality issues regarding imported coal, and rampant volatility in prices, a new alternative is likely to emerge in the form of coal shipments from...
South African thermal coal exports to India have recorded a steep decline of 30% m-o-m to 1.5 mnt in June, CoalMint vessel line-up data revealed. This fall in exports came as the demand from its top consuming sector, sponge iron...
Imported scrap volumes into Bangladesh, a major bulk ferrous scrap buyer, imports bulk ferrous scrap 1.76 mnt in H1 CY2022 (January-June, 2022) vis-a-vis 1.09 mnt in H1 CY2021. The country’s imports rebounded in June 2022 by 57% to 0.33 million...
Amid concerns surrounding Russian gas supplies post-the August sanctions, several parts of Europe have been relying upon coal-fired power generation as the only viable option. Germany, Austria, Poland, the Netherlands, and Greece are among the first European nations to have...
The government is currently studying the possibility of imposing progressive export tax on nickel metal products such as nickel pig iron and ferronickel in a bid to further push the development of the downstream industries in the country, the world’s...
The Russia-Ukraine conflict that commenced in end-February, 2022 has been altering coal trade dynamics in more ways than one. India, whose coal imports from Russia rarely touched the 1 million tonne (mnt) mark in the past, imported about 2.02 mnt...
After the closure of mining activities since 2018, Goan iron ore industry now see some signs of respite as the state’s chief minister Pramod Sawant has said that the auctioning of iron ore mining leases would begin within the next...
Md. Zafar Alam, Jt Secretary, Govt of Bangladesh, is Member (Admin and Planning) at the Chittagong Port Authority. In a recent interview to SteelMint, Mr Alam revealed about the expansion plans of Chittagong port to ease imports by steel and...
Bangladesh to add 1.5 Mn Steel Capacities in 2020
Bangladesh’s steel industry is growing at a rapid pace on the back of increasing steel demand for the mega infrastructure projects lined up in the country in this decade. To meet the expeditious growth in demand, many large and medium...
Ministry Invites Draft Rules, Proposes Existing Lessee to Vacate Area in 30 Days
The Ministry of Mines has invited comments/suggestions on draft Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Amendment Rules, 2020 and draft Mineral (Auction) Amendment Rules, 2020. The Ministry has invited suggestions from the general public, Government of...
JSW Steel Holds 21% Share of Merchant Iron Ore Supplies After it Won Jajang Mines
After winning four iron ore mines so far in Odisha auctions 2020 (2 captive & 2 merchant), JSW Steel has occupied a share of 21% in Odisha’s merchant iron ore supplies. Other major merchant suppliers are – OMC, Serajuddin &...
Increase in Tax Structure Pulled Down Bangladesh Scrapped Vessel Imports in 2019 – PHP
Mr Zahirul Islam is a Director at PHP Family and MD of PHP Ship Breaking and Recycling Ind. Ltd. and PHP Ispat Ltd, overseeing the operations of the Long Steel and Recycled steel divisions of the PHP family. He shared...
How Barapukuria Can Address Bangladesh’s Rising Coal Demand
Barapukuria Coal Mining Company (BCMCL), operator of the first and sole coal mine of Bangladesh, has reported a decrease of 13% in annual coal production during FY19. The company recorded 805,695.63 MT coal output in FY19 as against 923,276.08 MT...