Data: SHFE, DCE market movement (Sep 22)

[Indonesia] Wirerod prices currently stand at approximately US$510/ton FOB. The market has returned to a quiet state, as buyers have already secured the volumes needed to meet year-end requirements. There is no significant driver from either domestic or external factors at this time, with demand remaining fundamentally weak. With a public holiday approaching in China next week, export activity may see some short-term fluctuation in the lead-up to the break. However, should Chinese product movement remain stagnant and demand continue to stay weak, there is a modest possibility that mills may consider lowering prices — particularly given that even a price reduction is unlikely to generate significant order volume under current market conditions.

India’s core sector output grew 4.8% YoY in August 2026, easing from 5% in July, while steel output rose 3.4%. Iron ore production increased 5.5%, while cement output rose 12.5% and electricity generation 11.6%. Core sector output grew 4.3% during April-August 2026, compared with 2.4% a year earlier. For the steel market, higher steel, iron ore and cement output indicates continued activity across steelmaking and construction-related sectors which could support steel demand in the near term. ICRA expects overall industrial output growth to ease to around 5%-6% in August from 6.7% in July, suggesting some moderation in near-term industrial activity.

[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.