[Indian and Indonesian Steelmakers Plan $350 Million Stainless Slab Mill]

[Plate/HRC] Today HRC and other flat-product export prices edged up USD 1/tonne day on day, with HRC transaction prices at 485-489 USD/tonne. Overseas Indonesian slab dipped to 465 USD/tonne today, while the domestic price still held at 470 USD/tonne; that level is understood to have essentially reached the domestic cost line, so further cuts by Chinese mills look unlikely. [Billet] Today export billet was offered at 451-455 USD/tonne FOB Jiangyin. Market feedback indicates that heavy domestic sales pressure has lifted mills' appetite for billet exports, with some recently lowering prices to move cargo to exporters, while overseas customers' inquiries were unremarkable. [Rebar] Today Tianjin rebar export prices were steady, with some mills quoting slightly lower and overall transaction prices at 478-483 USD/tonne. Some market participants reported discounted deals today, mostly in small lots, while order intake at the majority of mills that did not cut prices remained poor.

[Mo Express] SMM July 29: A steel mill in Shanxi had a FeMo tender price of 331,000 yuan/mt (acceptance) on July 28. A steel mill in Jiangsu set a FeMo tender price of 334,500 yuan/mt, acceptance, on July 29.

Foreign Ministry Spokesperson Mao Ning chaired a regular press conference. A Reuters reporter asked, sources said that China has asked the Houthis to directly guarantee the safe passage of Chinese oil tankers through the southern Red Sea. It is said that Chinese officials have listed Chinese vessels to the Houthis. The two sides also reported the relevant actions to Iran. Can the Foreign Ministry confirm this? Mao Ning stated that China closely follows the developments in the Red Sea and believes the sovereignty and security of regional countries should be respected, and the safety and smooth flow of international shipping lanes should be jointly safeguarded. China calls on relevant parties to continue to properly resolve conflicts and differences through dialogue and consultation, and promote the de-escalation of the situation in the Red Sea.