Steel Sector News (Domestic and Global):
I. India’s ferrous scrap import has touched more than 1 year high in Nov’18. According to published data, India imported 516,879 MT ferrous scrap in Nov’18 that stood 17% higher from 442,304 MT recorded in Oct’18.
II. Dispatches of iron ore from Odisha rose by 4% to 70.87 MnT in CY’18 as against 67.94 MnT in CY’17. On monthly basis, this amount increased marginally to 6.44 MnT in Dec’18 from 6.24 MnT in previous month.
III. Chairman of China Iron and Steel Association (CISA) stated that the China’s steel industry should be optimistic about the domestic steel demand in 2019 due to increased infrastructure investment coupled with rebounded growth in ship manufacturing segment. He also added that the steel demand in machinery and home electric appliance segment will also remain stable in 2019.
IV. Iran’s finished long steel export soared by 122% to 1,491,000 MT during CY18 (JanDec’18) from 672,364 MT of export during CY’17. V. South Korea’s flat steel exports experienced marginal decline of 3% in CY18 to 21.47 MnT from 22.19 MnT in CY17. On Y-o-Y basis its flat steel export volumes came down by 10% to 1.62 MnT in Dec’18 against 1.81 MnT in Dec’17.
