[Japan Updated Anti-Dumping Duties on Chinese and South Korea Galvanized Steel]

[Sheets & Plates] Today, some export prices of hot-rolled coil and other sheets & plates rose $1/mt DoD, with transaction prices of hot-rolled coil at $482-485/mt. In the second half of the week, China’s futures market continued to rise, and domestic export FOB prices followed suit. However, traders reported that after the price increase, actual transactions were relatively limited, but on the steel mill side, there were cases of traders purchasing against earlier orders.

[India] Indian long steel prices registered a slight decline across major markets, with buying activity remaining cautious amid the monsoon season. Mandi Gobindgarh TMT held at 503.10 USD/tonne (47,900 INR/tonne), while primary producer offers remained at 525.15 USD/tonne (50,000 INR/tonne) ex-Durgapur. In the semis market, Mandi Gobindgarh billet was unchanged at 447.43 USD/tonne (42,600 INR/tonne), although billet prices in Durgapur and Raipur slipped by 4.20 USD/tonne (400 INR/tonne) and 1.05 USD/tonne (100 INR/tonne), respectively. Export sentiment remained subdued, with Indian HRC offers heard at 490 USD/tonne FOB to European buyers and 520 USD/tonne FOB to Middle Eastern buyers. But buyers were not interested in these levels amid the availability of lower-priced material from other regions. Domestic raw material prices softened in July, led by lower iron ore and manganese ore prices. NMDC reduced Baila lump (65.5%) prices by 4.4% month on month to 57.10 USD/tonne (5,450 INR/tonne) and Baila fines (64%) by 3.1% to 49.30 USD/tonne (4,700 INR/tonne), while MOIL's 37% Mn lump ore declined 5.0% to 194.20 USD/tonne (18,529 INR/tonne).

[India] The Alang ship recycling market has limited trading activity, with prices down by around 2 USD/tonne (200 INR/tonne) from the previous day. Currently, melting scrap prices stand at 346 USD/tonne (33,000 INR/tonne), while HMS attachment prices are at 367 USD/tonne (35,000 INR/tonne). Demand remains weak, yet limited vessel arrivals have kept the supply side under no pressure for now. Due to ongoing geopolitical uncertainties and the monsoon-related slowdown in operations, overall market activity and buying interest have been suppressed, and the market is expected to remain stable over the next 15 days.