[Tata Steel Develops BIS-Certified Fire-Resistant E350 Structural Steel]

[India Domestic] India’s domestic prices were mostly stable on Oct 6 with only a few prices edged up across key markets. Market activity remained moderate. Unscheduled power cuts in several regions are affecting industrial operations and reducing production. The disruptions are particularly impacting steel mills with some producers facing lower output due to limited power availability. The lower production may tighten spot supply in the steel market and may provide support to steel prices. Mandi HMS 1&2 (80:20) unchanged at 412 USD/tonne (39,700 INR/tonne) delivered Mandi. Mumbai HMS 1&2 (80:20) flat at 384 USD/tonne (37,000 INR/tonne) delivered Mumbai. Sponge iron PDRI unchanged at 309 USD/tonne (29,800 INR/tonne) EXW Raipur for the second consecutive day on moderate demand. Mumbai Rebar unchanged at 557 USD/tonne (53,700 INR/tonne) EXW Mumbai. Meanwhile, rebar remained unchanged 541 USD/tonne (52,200 INR/tonne) EXW Raipur. Mandi ingot flat at 505 USD/tonne (48,700 INR/tonne) EXW Mandi. Durgapur Billet up 1 USD/tonne (100 INR/tonne) to 468 USD/tonne (45,100 INR/tonne) delivered Durgapur.

[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.