[SMM Steel] European HRC Market Awaits Post-Holiday Recovery

[SMM Steel] Market feedback indicates that for Q235B, the EXW price of HRC with specifications of 3.5*1250*C is $507/mt, with the shipping port being Bayuquan.

[India Export] Indian HRC sellers were heard seeking around 660USD/tonne CFR Europe and 530USD/tonne CFR Vietnam. Market participants said India’s EU quota was effectively full after accounting for material already en route and cargoes held at customs warehouses in the EU. They therefore expect Indian HRC cargoes shipped in late October or November to be positioned for January customs clearance and believe these later shipments could secure stronger prices. The Southeast Asian market is meanwhile awaiting price revisions from major Vietnamese mills, which will provide the next direction for regional HRC offers. In the domestic market, HRC prices increased by around 26USD/tonne (2,500INR/tonne) to approximately 630USD/tonne (60,000INR/tonne) EXW Mumbai. IMD’s normal calendar places the beginning of southwest monsoon withdrawal from northwest India around September 17. Market participants expect steel demand to strengthen as the monsoon recedes and the festive season begins, supporting a pickup in construction and infrastructure activity.

[Indonesia] Billet is increased 2 USD/ton, now at 477 USD/ton FOB. This is because that the price is already consider expensive at the market so the buyer will think twice, however right now some info that there are a lot of buyers do some long position because globally the price of cooking coal seems increase, so the buyer tries to buy a lot today worry that the price could go up. That’s why the demand is increasing and the mills happy to increase the price. If the demand is really rising up for the next days and consistently rising up the price will also go higher once more.