[SMM Hot-Rolled Coil Daily Trading] Spot Cargo Trading Weakened Again

[SMM Steel] Indian state-owned steelmaker RINL issued a new export tender for 30,000 mt of prime continuous cast steel billets in SAE-1008, SAE-1010, and SAE-1018 grades. The tender covers 150×150 mm billets on an FOB stowed basis, with shipment scheduled by July 20, 2026. The minimum bidding volume is 10,000 mt, while bids must be submitted by May 27 and remain valid until June 1. Payment terms require irrevocable sight letters of credit.

[SMM Steel] The Philippine Iron and Steel Institute expects the country’s steel demand to reach a record 11.1 million mt in 2027, up around 6%, supported by accelerated infrastructure construction ahead of the 2028 national election. The institute said steel consumption in 2026 is likely to remain similar to 2025 levels as stricter government project audits continue to slow construction activity. Despite weaker global steel demand, Philippine steel mills were reportedly not facing major supply disruptions.

[SMM Steel] Hoa Sen Group announced that a fire broke out at the acid regeneration line tower section of its Hoa Sen Phu My Steel Sheet Plant on May 25 at around 10:00 PM. The fire was fully extinguished by 10:45 PM through coordination between the company’s on-site firefighting team and local fire authorities. The company said there were no casualties or damage to goods, while machinery damage was limited and fully covered by insurance. Hoa Sen added that the affected acid regeneration line is an auxiliary facility separated from main production areas, and all other production lines continue operating normally without any impact on the group’s business operations.