Data: SHFE, DCE market movement (Oct 14)

[Steel Billet] Today, export FOB prices for square billet edged down by USD 1/t, with Jiangyin Port quoting USD 460–465/t. Feedback indicates that overseas demand has been recovering steadily of late, inquiry activity remains fair, and some exporters have been taking on export billet orders.

[SMM Steel] Market feedback indicates that the current FOB quote for 3SP square billet, sized 150×150 mm, stands at USD 461/t, with Guangzhou Port as the port of shipment.

[India Domestic] India’s domestic steel prices were mixed on Oct 14, with rebar prices remaining stable, sponge iron edging lower and billet and ingot prices saw a slight gains. Buying activity remained subdued with buyers focusing mainly on immediate requirements. Power cuts in few regions and high operating costs continued to affect steel production, limiting supply-side support amid weak demand. Raipur rebar unchanged 546 USD/tonne (51,900 INR/tonne) EXW Raipur. Mumbai rebar prices continued trend sideways a week at 565 USD/tonne (53,700 INR/tonne) EXW Mumbai. PDRI sponge iron edged down 1 USD/tonne (100 INR/tonne) to 298 USD/tonne (28,300 INR/tonne) EXW Raipur. Mandi ingot up 2 USD/tonne (200 INR/tonne) to 493 USD/tonne (46,900 INR/tonne) EXW Mandi. Billet up 2 USD/tonne (200 INR/tonne) to 467 USD/tonne (44,400 INR/tonne) EXW Raipur.