Ferro Alloys News Today

Indian silico manganese prices are poised to remain supported due to soaring raw material costs, particularly manganese ore. The industry anticipates sustained demand driven by buoyant steel prices. Market participants brace for continued support on silico prices amidst global ore price hikes and supply constraints.

Post Labor Day, China's stainless steel futures market saw a surge due to optimistic sentiment and raw material costs. Macroeconomic benefits and favorable consumption data boosted futures, resulting in fluctuating transactions and market optimism.

Jindal Stainless Limited (JSL) supplied special alloy steel sheets for the Indian Navy's SMART system, enhancing their anti-submarine warfare capabilities. Developed by subsidiary Jindal Defence and Aerospace, these sheets withstand high pressure and temperature.

EU extends antidumping and countervailing duties on stainless steel cold-rolled products from Indonesia to include Taiwan, Turkey, and Vietnam after allegations of measures circumvention, following an investigation requested on July 3, 2023.

MOIL Limited hit a record monthly production of 116,000 mt of manganese ore in April, marking a 22% YoY growth. As per the company’s regulatory filing, sales also rose by 17% to 111,000 mt.

Indian silico manganese prices surged due to rising manganese ore prices and active demand. With a 2-year high, the recent spike reflects the market's concern over ore shortage. MOIL's manganese ore prices surged 25-40%, driven by reduced import shipments, prompting producers to raise prices.

Taiwan's Yieh United Steel Corp. (Yusco) plans to raise its stainless steel export prices by $100-$150 per ton for the 300 series in May. However, prices of 430 products and 316L product surcharges will remain steady.

UK's auto industry faces a 27.1% dip in car production as manufacturers transition to electric vehicle production. A further 6.2% decrease to roughly 940,000 units is expected this year due to model changeovers.

Amid China's crackdown on non-VAT steel exporters, India eyes a potential surge in steel exports. With China's dominance facing uncertainty, India's competitive capabilities position it as a beneficiary. Will Indian steel seize the opportunity amidst global trade shifts?

China's steel exports surged by 28% in Q1 2024, prompting trade concerns. Despite challenges in the domestic market, China's steel production remains high, leading to increased exports. A few countries are implementing tariffs and trade measures in response, while China plans new export taxes.