[SMM Steel] Indonesian Slab Steady at $490/t FOB, Demand Seen as Only Trigger for Change

Tata Steel has developed a hot-rolled fire-resistant E350 structural steel capable of retaining two-thirds of its room-temperature yield strength at 600°C for up to three hours. The product has received Bureau of Indian Standards (BIS) certification under IS 15103. Tata Steel said the grade uses microalloying and microstructural engineering to improve strength retention at elevated temperatures. The steel can be used for structural hollow sections and pre-engineered buildings, supporting applications requiring greater fire resistance and structural safety.

[Vietnam] A major Vietnamese steelmaker raised domestic HRC prices by around USD 9/tonne for December and January deliveries. After discounts for orders of 20,000 tonnes or more, offers were equivalent to around USD 543/tonne CIF southern Vietnam. Persistently high coking coal costs are keeping production costs elevated, while improving domestic steel demand and tighter HRC supply from India are providing additional support.

[Turkey] Turkish domestic rebar prices extended their downward trajectory as traders widened discounts to accelerate destocking, forcing domestic mills to lower their offers. Turkish rebar ex-works prices declined further to 615 USD/tonne EXW (excluding VAT). By region, traders in Iskenderun lowered quotes to 615–620 USD/tonne EXW, while Marmara mills similarly marked down offers by 5–10 USD/tonne to 640–645 USD/tonne EXW. Spot trading remained subdued throughout the day; market participants noted that the financial turmoil triggered by the liquidation of over 100 Turkish investment funds in September continues to reverberate, tightening liquidity and further dampening business confidence. Meanwhile, maritime security in the Black Sea deteriorated further following the fire and subsequent sinking of a Turkish vessel within Romania's exclusive economic zone. The market broadly fears that this incident will significantly drive up Black Sea shipping risk premiums, disrupting key logistical routes—particularly Turkish rebar exports to Romania and scrap imports from the country. On the export front, rebar FOB export prices held stable at 615 USD/tonne FOB amid sluggish trading.