Data: SHFE, DCE market movement (Aug 10)

[India] Affected by monsoon weather, sentiment in India's domestic steel and scrap market remained cautious, with buying activity largely dominated by need-based procurement. Demand from the infrastructure and manufacturing sectors continued to underpin the market, while steel mills and secondary steel producers remained watchful of finished steel demand and profit margins before initiating fresh purchases. In terms of prices, the ex-yard price of ship-breaking melting scrap in Alang fell by 3.15 USD/tonne from last Friday to 341.13 USD/tonne (32,500 INR/tonne). In northern Mandi Gobindgarh, the price of HMS 1&2 (80:20) scrap edged down by 1.05 USD/tonne (100 INR/tonne). Meanwhile, Bellary sponge iron PDRI price dipped slightly by 2.10 USD/tonne to 274 USD/tonne (26,100 INR/tonne), while Mumbai rebar prices inched up by 1.05 USD/tonne to 492 USD/tonne (46,900 INR/tonne).

[Sheets & Plates] Today's HRC and some other sheets & plates export prices remained stable day-on-day, with HRC transaction prices at $482-485/mt. Traders reported that today's market transactions and inquiries were mediocre, with no significant increase in volumes.

[Malaysia] Malaysia’s domestic steel market remained broadly stable, with mainstream local HRC offers at around USD 510/tonne. Rebar base prices stood at approximately USD 537–547/tonne, while wire rod was quoted at around USD 537/tonne. Rebar and wire rod prices remained close, indicating relatively stable long-product pricing, while HRC continued to trade at a noticeable discount. Mill offers showed limited movement, with downstream demand providing little support for broader price increases.