[SMM Steel] India Billet Export Indications Reach 470 USD/tonne FOB; Vietnam Resists Higher HRC Offers

[India] Indian steel billet export offers strengthened to around $470/mt FOB India, but this price level is only heard in the market with no deals confirmed yet. Indian HRC offers to Vietnam rose to $520–525/mt CFR, but Vietnamese buyers were unwilling to accept this level, limiting market trading activity. The steel scrap market also remained firm, with European shredded scrap offers at $420–422/mt CFR Port Qasim. The above regional price signals supported market sentiment and compressed the room for downward price adjustments in the Indian market. Overall, seller price expectations and raw material prices are strengthening, but finished steel buyers continue to resist high prices, still limiting actual transaction activity.

[India] The Alang ship recycling market remained stable on Thursday with prices unchanged. Overall market sentiment is steady and range-bound with no significant price movement observed on a daily basis. Demand remains moderate, while trading activity is relatively subdued as buyers continue to remain cautious and selective. Alang 8Ani (12mm) plate prices unchanged at 422USD/tonne (40,300INR/tonne). Melting scrap prices are flat at 361USD/tonne (34,500INR/tonne) and HMS attachment prices are also flat at 382USD/tonne (36,500INR/tonne).

[Indonesia] There has been significant movement in Indonesian HRC prices, particularly for CFR Vietnam. Prices are still ranging between 510–520 USD/metric ton CFR Vietnam; however, they may decline as some buyers are attempting to negotiate prices below 510 USD/metric ton CFR Vietnam today, although this does not apply to immediate shipments. However, thanks to strong HRC market fundamentals—where prices rose by about 5 USD/metric ton last week and have shown no signs of declining—prices are expected to remain stable despite pressure from bidders.