[SMM Steel] Indian steel billet export offer rose to $470/mt FOB, while Vietnamese buyers have limited acceptance for higher hot rolled coil offers.

[India] India’s billet export indications strengthened to around 470USD/tonne FOB India, although the level was heard as an indication rather than a confirmed transaction. Indian HRC offers to Vietnam rose to 520–525USD/tonne CFR, but Vietnamese buyers remained unwilling to accept these levels, limiting trading activity. Ferrous scrap also maintained a firm tone, with European-origin shredded scrap indicated at 420–422USD/tonne CFR Port Qasim.These regional price signals supported sentiment and reduced the scope for lower offers into India. Overall, seller expectations and raw-material prices are strengthening, but continued resistance from finished-steel buyers is restricting transaction liquidity.

[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.