[East Pipes Wins Four-Month Steel Pipe Supply Deal with Aramco]

[India Export] Indian HRC offers to Europe remained firm at around $640/tonne FOB India and $715–730/tonne CFR North Europe, although trading was slow and no fresh transactions were confirmed. Firm coking-coal prices continued to support mill offers. Chinese HRC was offered at $550–555/tonne CFR India; after adding the 12% import duty and other landing charges, its landed cost would be broadly comparable with the prevailing Indian domestic price of $668/tonne (INR 64,000/tonne) ex-yard Mumbai, limiting the price advantage of imported material. Domestic HRC prices remained supported by steady buying, firm raw-material costs and temporarily lower supply during maintenance shutdowns. A major Indian steelmaker’s HRC mill is currently undergoing maintenance. Such shutdowns typically last 7–10 days and are not expected to materially disrupt deliveries, but the temporary reduction in availability is sufficient to keep domestic prices firm.

Japanese steelmaker Nakayama Steel Works has suspended operations at the hot strip and plate mill of its Funamachi Plant in Osaka following a fire on September 12. The fire broke out at around 2:50 am and was extinguished at approximately 3:20 am, with no injuries reported, but it damaged some power cables used for the heating furnace and other equipment. The cause remains under investigation, and no restart timeline has been set, while downstream processing lines continue operating normally.

[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.