Data: SHFE, DCE market movement (Sep 17)

[Sheets & Plates] HRC and other sheets & plates export prices rose $1-2/mt WoW today, with some products holding steady. HRC transaction prices were concentrated in the $492-495/mt range. Recently, China's price advantage has been greater than outside China, and with the upcoming dual festivals, overseas purchasing activity has improved significantly, leading to better market transactions.

[India Export] Indian HRC offers into Europe rose to 715–730USD/tonne CFR late on September 16. No transactions were confirmed at these levels, as market participants continued to await clarity on quota availability and customs-clearance timing. Buyers remained cautious about committing to fresh cargoes until the duty-free access position for Indian-origin material became clearer. Billet export indications were heard at 470USD/tonne FOB India. In the imported scrap market, HMS 1&2 (80:20) was heard above 375USD/tonne CFR India on September 17, compared with 360–370USD/tonne CFR Nhava Sheva/Mundra for UK/US-origin material on September 16. Shredded scrap increased to approximately 410–415USD/tonne CFR India, from 405–410USD/tonne previously. Suppliers said sales to India had been paused for about a week because of PSIC-related issues, while the Chattogram market remained quiet for several days. In the domestic HRC market, mill levels were heard at approximately 625–631USD/tonne (60,000–60,500INR/tonne) EXW, while ex-yard Mumbai indications were around 667USD/tonne (64,000INR/tonne), excluding GST.

Italian metals distributors' association Assofermet has voiced concern after the Milan Court of Appeal rejected a bid to suspend the shutdown of hot-end operations at the former Ilva steelworks in Taranto. Acciaierie d'Italia plans to begin cooling its blast furnaces from September 16, a process Assofermet says would make restarting them extremely difficult. The association warned the shutdown could structurally cut Italy's steelmaking capacity and deepen import reliance, a risk compounded by the EU's new steel safeguard regime, which since July 1 has cut import quotas and raised out-of-quota duties to 50%.