[SMM Lecong HRC Inventory] Lecong inventory accumulated rapidly this week.

[Turkey] While trading activity in the Turkish rebar market remained quiet overall this week, strong mill pricing sentiment—fueled by rising scrap costs and a slight recovery in domestic demand—pushed domestic offers up to 575 USD/tonne EXW (excl. VAT), with export quotes also edging up to 575 USD/tonne FOB. Notably, the Izmir region remained slightly weaker, with local offers hovering around 560–565 USD/tonne EXW. Overall, backed by resilient raw material scrap costs, Turkish rebar prices are expected to maintain a firm footing in the near term.

[EU] European hot-rolled coil (HRC) offers maintained their upward momentum this week as domestic steelmakers successfully realized earlier price hikes in actual transactions, pushing mainstream quotes up to 815–820 USD/tonne EXW. Domestic mills have largely filled their September order books, with a mainstream producer recently concluding several forward-delivery contracts in succession. Supported by this, some mills are adopting a wait-and-see approach or withholding offers to prepare for further price increases on October production. On the import front, quotes in Antwerp held steady at 800–820 USD/tonne DDP. Although end-users continue to complain about sluggish consumption and elevated inventory levels, domestic mills maintain a steadfast posture, refusing to grant price concessions. Backed by ample order backlogs as the traditional August summer maintenance period approaches, steelmakers remain confident about post-holiday demand recovery.