[SMM Steel]

[SMM Steel] Market feedback indicates that for SAE1006, the EXW price of cold-rolled base material with specifications of 3.0*1250 is $512/mt.

[India Domestic] Domestic prices in India were mixed on Wednesday. Alang Melting prices unchanged at 392.25USD/tonne (37,300INR/tonne) ex-yard Alang. While, 8Ani (12mm) down by 2.10USD/tonne (200INR/tonne) to 439.55USD/tonne (41,800INR/tonne) ex-yard Alang. Mumbai Rebar up by 1.05USD/tonne (100INR/tonne) to 529.93USD/tonne (50,400INR/tonne) EXW Mumbai. PDRI sponge iron unchanged at 302.82USD/tonne (28,800INR/tonne) EXW Raipur for the third consecutive day as buyers and sellers are both in a wait-and-watch mode. Raipur billet increased by 3.15USD/tonne (300INR/tonne) to 446.87USD/tonne (42,500INR/tonne) EXW Raipur. Ingot up by 1.05USD/tonne (100INR/tonne) to 488.85USD/tonne (46,500INR/tonne) EXW Mandi. Chennai HMS offers stood at 352.27USD/tonne (INR33,500/tonne) on Wednesday with sellers eyeing 357.52USD/tonne (INR34,000/tonne) amid bullish sentiment. A market source attributed that sellers tend to turn aggressive during such bullish phases, pushing offers higher on the back of a persistent demand-supply gap. Buyers, however, remain cautious at these levels. HMS 1&2 (80:20) rose by 1.05USD/tonne (100INR/tonne) to 398.45USD/tonne (37,900INR/tonne) delivered Mandi.

[Rebar] Today, rebar export quotations at Tianjin Port remained largely stable with little change, and overall transaction prices ranged from USD 484-489/ton. According to exporters, market inquiries were weak today, overseas end users stayed on the sidelines, and overall willingness to purchase remained low.