Data: SHFE, DCE market movement (Aug 11)

[EU] European hot-rolled coil prices edged higher despite limited trading activity during the summer holiday period. Northwest European HRC rose to around EUR 719/tonne ex-works, while Italian HRC was assessed at about EUR 719.5/tonne ex-works. Market participants expect prices to strengthen further into September as reduced domestic output, logistical constraints and tighter import availability limit supply. Competitive imports remain difficult due to trade measures and rapidly exhausted quotas.

[India] India’s Alang ship recycling market saw improved buying sentiment last week with buyers becoming more active after several vessels were recently diverted to Chattogram and Gadani. Despite subdued domestic steel demand, Alang plate prices rose from 401USD/tonne (38,300 INR/tonne) to 411USD/tonne (39,200 INR/tonne) on Friday, supported by a stronger rupee. Indicative recycling prices remained steady at 442-447 USD/LDT for tankers and 452-457 USD/LDT for containers. Market participants expect the stronger bidding interest reflects improving confidence in Alang, although overall market fundamentals remain soft.

[Sheets & Plates] Today, export prices for HRC and some other sheets & plates remained mostly stable day-on-day, with some prices raised slightly by $1/mt. HRC transaction prices were at $482-485/mt. Market inquiries still didn't see significant increase, and low prices could secure some deals, while current offers were mostly difficult to result in actual transactions.