[SMM Steel] Turkish Rebar Rally Unstoppable: Tight Supply and Black Sea Disruptions Widen Mill Margins

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 15 Sep , 2026

[Indonesia] Yesterday, prices rose by about 5 USD/metric ton but have now fallen again by 5 USD/metric ton to 480 USD/metric ton. This is due to falling Chinese steel prices—one of the main drivers of Indonesian steel prices. To ensure that Indonesian billet offers remain competitive, producers are willing to lower their prices in line with movements in Chinese steel product prices. This also means that market trends have become clear again after mills raised their prices—a move that turned out to be a mistake; at least now it’s clear which direction the market is heading. If Chinese steel prices continue to fall this week, Indonesian billet prices may drop even further; however, for export prices, we may see the impact on freight costs as global oil and gas prices are currently surging.

Ukrainian steelmaker Zaporizhstal, part of Metinvest Group, was hit by four ballistic missiles on the night of September 12, sustaining critical damage to its blast furnace and open-hearth sections, power systems, and logistics infrastructure, with four employees injured. Production at the plant had not resumed following two earlier attacks on August 11 and 27, meaning no technological emergency risk existed at the time of the strike. Metinvest COO Oleksandr Myronenko said the plant is a civilian facility producing pig iron and steel, noting that damage has worsened with each successive attack.