Zenith Steel Mill Releases Price Adjustment Information for Wire Rod and Rebar for Early September

[Focusing on Key Levers Such as the "Six Networks" and the "Two Major Tasks," Signals to Step Up Stabilizing Investment Continue to Be Released] From a series of special meetings on promoting effective investment to the national investment work promotion meeting, relevant authorities have recently released signals to intensify and accelerate efforts to stabilize investment. Experts expect that follow-up work to stabilize investment will focus on areas such as the "Six Networks" and the "Two Major Tasks," strengthening project planning, reserves, and construction implementation, while accelerating the disbursement and use of funds from special bonds, new-type policy-based financial instruments, and other sources to speed up the formation of physical workload.

Today, iron ore futures continued to consolidate on a strong note. The most-traded DCE I2701 contract closed at 727 yuan/mt, edging up 0.76% from the previous trading day. In the spot market, prices of mainstream products followed with gains of 3-5 yuan/mt.

[SMM Steel] India Domestic Steel Prices Rise Across Key Markets [India Domestic] India’s domestic steel market strengthened with semi-finished and finished steel and prices rising across key markets. Price gains were supported by firmer market sentiment and higher trading activity. Rebar prices up by 12.58USD/tonne (1,200INR/tonne) to 519.81USD/tonne (49,600INR/tonne) EXW Mumbai. Billet rose by 10.48USD/tonne (1,000INR/tonne) to 486.28USD/tonne (46,400INR/tonne) delivered Mandi. Ingot up by 10.48USD/tonne (1,000INR/tonne) to 486.28USD/tonne (46,400INR/tonne) EXW Mandi. Ingot rose by 12.58USD/tonne (1,200INR/tonne) to 510.38USD/tonne (48,700INR/tonne) EXW Ludhiana. PDRI sponge iron prices up by 6.29USD/tonne (600INR/tonne) to 311.26USD/tonne (29,700INR/tonne) EXW Raipur. PDRI sponge iron prices up by 2.10USD/tonne (200INR/tonne) to 306.02USD/tonne (29,200INR/tonne) EXW Bellary.