New Zealand Steel Mencapai Produksi Baja Hijau Pertama dengan EAF Baru

[Vietnam] Vietnam’s domestic steel market remained relatively stable, with construction steel prices holding at around 532 USD/tonne amid limited exchange-rate fluctuations. HRC prices stood at around 515–522 USD/tonne CFR Ho Chi Minh City, with prices remaining under pressure from subdued downstream demand and cautious buying sentiment. As weaker exports and increasing trade remedies limit overseas sales, the domestic market remains a core revenue driver, supported by expanding public investment and urbanisation. With the government holding more discussions and consultations on trade-remedy measures, Vietnam’s domestic steel market is expected to receive greater protection from low-priced imports. Measures under consideration include tighter quality requirements to ensure imported steel complies with Vietnamese standards before entering the market, which could help improve the competitiveness of domestic producers.

Today, the iron ore futures moved steadily today. The most-traded DCE I2609 contract closed at 720.5 yuan/mt, up 0.14% from the previous session. Spot prices at Qingdao Port fell by 0–2 yuan/mt from the previous trading day. Traders mostly priced based on market conditions, while steel mills mainly procured on a rigid demand basis, leaving total spot volumes relatively low so far.

[India] Domestic steel and scrap prices have edged up slightly on Wednesday but demand remains subdued and buying interest is still limited. Several primary steel producers are under maintenance, reducing mill buying and raw-material consumption. Ship-breaking Melting scrap prices in Alang edged up 2.10USD/tonne on Monday to 346USD/tonne ex-yard (33,000INR/tonne). In northern Mandi Gobindgarh, HMS 1&2 (80:20) up by at 1.05USD/tonne (100 INR/tonne) to 353USD/tonne del Mandi consumer (33,700 INR/tonne). Meanwhile, In Southern, HMS 1&2 (80:20) remained flat to 325 USD/tonne del Chennai consumer (31,000 INR/tonne). Chennai sponge iron PDRI up by 2.10USD/tonne to 275USD/tonne del Chennai consumer (26,250 INR/tonne). Chennai rebar prices edged up to 490USD/tonne ex-works (46,700 INR/tonne). Monsoon conditions and weak construction activity are likely to keep demand soft in the coming week. Prices are expected to remain stable to slightly soft with limited downside and no major correction expected in the near term.