[India’s domestic steel demand may cushion impact of US tariffs]

[Turkey] Demand in Turkey's domestic rebar market has gradually slowed, with the previous unilateral upward trend now showing signs of fatigue. Although some mills continued to push offers higher today, they encountered minimal buying interest. On the domestic front, the Turkish rebar ex-works price held flat at 630 USD/tonne EXW (excluding VAT). Regionally, mainstream mills in the Marmara area maintained their ex-works quotes at a high of 650 USD/tonne EXW; Izmir mills concentrated their offers around 625–630 USD/tonne EXW, while a mill in Iskenderun prepared to take orders at 620 USD/tonne EXW. In the export sector, the Turkish rebar FOB price rose to 615 USD/tonne FOB. Bolstered by robust domestic sales earlier, most mills have already locked in half or even all of their planned October production volumes. Facing negligible allocation pressure, mills are maintaining firm export offers and showing no urgency to close new deals, instead anticipating a potential resurgence in EU replenishment demand for November shipments.

DSMT Steel & Energy has proposed new steelmaking and rolling capacity at Haridi in Purulia district, West Bengal, as the project moves through the environmental-clearance process. The proposed facilities include a billet plant with annual capacity of 660,000 tonnes and a rolling mill with capacity of 627,000 tonnes. The wider project also includes a proposed 165 MW captive power plant, while DSMT has separately sought environmental clearance for a 52,800-tonne-per-year grinding-media ball facility at the same location. The project remains at the planning and environmental-appraisal stage, and no commissioning schedule has yet been confirmed.

The Mongolian Stock Exchange said Erdenet Mining Corporation will auction 560 wet tonnes (499.408 dry tonnes) of molybdenum concentrate on September 24. The material contains at least 44% molybdenum, equivalent to no less than about 219.7 tonnes of contained metal. The opening price is $28,504.17 per dry tonne, about 0.7% above the opening level of the previous same-grade auction on September 10. As that sale closed 19.25% above its opening price, the new listing should not be treated as a transaction price. Delivery is scheduled for October–November on DAP Erlian terms.