[SMM Steel] Tight Billet Supply Holds Turkish Rebar Steady While Wire Rod Edges Up

[Brazil] Brazilian imported flat steel prices remained largely stable this week, as surging freight rates effectively offset falling FOB offers from major origins. Hot-rolled coil (HRC) and cold-rolled coil (CRC) import prices held steady at 590 USD/tonne CFR and 700 USD/tonne CFR, respectively. Escalating geopolitical tensions in the Middle East have driven up shipping fuel costs, counteracting the FOB price cuts made by Vietnamese mills amid sluggish Asian demand and falling raw material costs. In the domestic market, pressured by weak downstream demand, tight credit, and accumulating inventories, Brazilian ex-works HRC prices held flat this week, with no price hikes planned for August. Additionally, Brazilian slab export sales slowed this week, as major exporters finalized internal transfers to their own mills in Europe and the Americas at 575–585 USD/tonne FOB.

Tata Steel has approved capital expenditure of 3.54 billion USD for its subsidiary Neelachal Ispat Nigam Limited in Odisha. The project will add 4.8 million tonnes of annual capacity, raising the mill’s total capacity to 6.3 million tonnes. Following the expansion, Tata Steel’s operational capacity in India will reach 27.4 million tonnes per year, supporting its longer-term target of 40 million tonnes and strengthening its presence in higher-margin branded long steel products.