[SMM Steel]

[SMM Steel] Market feedback: Currently, the FOB price for B500B rebar with a specification of Φ18mm is quoted at USD 482/ton, with the loading port being Tianjin Port.

This week, HRC social inventory stood at 2.9328 million mt, down 6,800 mt from the previous week, down 0.23% WoW, up 25.27% YoY, and up 30.34% YoY on the lunar calendar basis. This week, HRC mill inventory stood at 1.1155 million mt, down 4,600 mt from the previous week, down 0.41% WoW, up 6.19% YoY, and up 9.14% YoY on the lunar calendar basis. This week, total HRC inventory stood at 4.0383 million mt, down 11,300 mt from the previous week, down 0.28% WoW, up 19.40% YoY, and up 23.76% YoY on the lunar calendar basis.

A high-level joint meeting was held between Union Ministers H D Kumaraswamy (Steel & Heavy Industries) and Sarbananda Sonowal (Ports, Shipping and Waterways) to review the usage of steel recovered from ship recycling, as part of efforts to strengthen India's circular economy and ship recycling leadership. The meeting brought together key stakeholders — Department of Science and Technology(DST), Bureau of Indian Standards(BIS), Gujarat Maritime Board and the Ship Recycling Industries Association(SRIA) to assess current regulations and identify new sectors where recycled ship steel can be used, aiming to boost its value and expand its market. The move is seen as a step toward supporting domestic steel manufacturing and reinforcing India's position as the world's top ship recycling hub with a strong focus on sustainability and long-term efficiency in the sector.