Data: SHFE, DCE market movement (Sep 08)

[Steel Billet] Today, FOB export prices for square billets held steady for now, with quotations at Jiangyin Port at USD 460–465/t. According to market feedback, current export offers remain relatively high, while overseas demand is showing a divergent picture: the Middle East market has a certain level of rigid purchasing demand, whereas demand in Southeast Asia has yet to improve noticeably, with evident price-cutting pressure from buyers. Overall trading activity has been mediocre.

[SMM Steel] According to market feedback, the current offshore price for 3SP billets with a specification of 150*150mm is quoted at USD 465/ton, with the port of shipment being Jiangyin Port.

[India Domestic] Domestic steel and scrap prices were mostly flat on a day-to-day basis. Some finished steel products saw modest gains and market sentiment remained cautiously positive with some improvement in finished-steel demand. PDRI sponge iron unchanged at 304.02USD/tonne (28,800INR/tonne) EXW Raipur. Rebar up by 1.05USD/tonne (100INR/tonne) to 530.97USD/tonne (50,300INR/tonne) EXW Mumbai. Raipur billet up by 2.11USD/tonne (200INR/tonne) to 445.47USD/tonne (42,200INR/tonne) EXW Raipur. Mandi Billet unchanged at 489.80USD/tonne (46,400INR/tonne) delivered Mandi. Ingot flat at 489.80USD/tonne (46,400INR/tonne) EXW Mandi. HMS 1&2 (80:20) flat at 399USD/tonne (37,800INR/tonne) delivered Mandi. Mumbai HMS 1&2 (80:20) flat at 377.89USD/tonne (35,800INR/tonne) delivered Mumbai. Buying remained largely requirement-based, while mills continued to monitor raw-material availability and procurement costs.