[Kobe Steel Mencapai Pengurangan Emisi 23% Dibandingkan FY2013, Mengandalkan HBI dan Hidrogen untuk Mencapai 30% pada 2030]

[Turkey] The Turkish steel market operated under broad downward pressure last week. In the long products segment, aggressive discounting by traders liquidating stock for cash forced domestic mills to follow suit, pushing rebar ex-works prices down by 5 USD/tonne to 620 USD/tonne EXW (excluding VAT). By region, traders in Izmir cut offers to 610–615 USD/tonne EXW, prompting a major local producer to track the drop by cutting 10 USD/tonne to 615 USD/tonne EXW; mills across Iskenderun and Marmara similarly marked down offers by 5–10 USD/tonne. While low-cost positions built earlier allow traders to remain profitable despite price cuts, rising construction project costs and the simmering domestic investment fund crisis have heightened market anxieties over an accelerated seasonal demand slowdown. On the export side, rebar FOB export prices held flat at 615 USD/tonne FOB amid sluggish liquidity. In the flat steel sector, following waves of concentrated order bookings over the preceding two to three weeks, domestic procurement ground to a halt, fueling market expectations that hot-rolled coil (HRC) may follow longs into a downward cycle. Although domestic HRC ex-works prices held nominally flat at 620 USD/tonne EXW, actual transactions were essentially frozen. On the export front, the market remained tightly focused on the reopening of the EU's Q4 import safeguard quotas; with 271,000 tonnes of Turkish HRC currently awaiting clearance, quota exhaustion risks pressured export prices down by 5 USD/tonne to 610 USD/tonne FOB. Meanwhile, imported HRC held steady at 555 USD/tonne CFR, seeing negligible transaction activity amid Chinese holiday closures and alternative origins being either sidelined or aggressively priced.

[Iran] Iranian flat steel exports were broadly constrained last week, weighed down by the sharp depreciation of the rial and persistent logistical bottlenecks. Extreme currency volatility further exacerbated the wait-and-see sentiment among both buyers and sellers. In the slab segment, no concrete export transactions were recorded; Asian buyers largely shunned Iranian cargoes due to logistical uncertainties and US sanctions risks. Although one mill floated a tender at Bandar Abbas for 30,000–50,000 tonnes of November-loading material, elevated freight rates and vessel shortages mean the final buyers will likely be confined to neighboring countries. For hot-rolled coil (HRC), overall trading remained muted, with border exports mostly dedicated to fulfilling prior order backlogs. While September HRC deliveries to Iraq held at 540–560 USD/tonne FCA border crossings, Iraqi buyers' acceptance of higher-priced Iranian material has become noticeably restricted.

[Eropa] Harga baja jadi hilir yang terus-menerus rendah masih menekan pasar hot-rolled coil (HRC) Uni Eropa, membatasi kemampuan pabrik untuk menaikkan penawaran; akibatnya, harga ex-works di Eropa Barat Laut dan Italia tetap datar. Pusat layanan baja UE secara terus terang menyatakan bahwa laba tipis yang dihasilkan dari pengadaan HRC berharga tinggi sama sekali tidak cukup untuk menutupi biaya pemrosesan dan biaya operasional harian mereka. Produsen pipa hilir juga melaporkan perdagangan yang lesu, menyatakan bahwa permintaan pengguna akhir yang lemah tidak dapat mendukung kenaikan harga produk jadi, dengan target harga beli mereka untuk pemesanan HRC baru berada jauh di bawah kuotasi pabrik saat ini. Di sisi impor, meskipun kuota Turki cenderung menuju kehabisan, volume carryover masih dapat memberikan ruang pembersihan. Harga impor HRC saat ini berkisar sekitar 705 USD/ton CIF; namun, pembatasan kuota, biaya kepatuhan CBAM, dan persaingan ketat di antara pemasok Turki telah menimbulkan ketidakpastian yang cukup besar atas pesanan forward untuk tahun 2027. Di sisi pasokan, ADI Italia saat ini hanya memenuhi kontrak yang ada dan telah menghentikan penerimaan pesanan baru. Khususnya, pelemahan euro terhadap dolar baru-baru ini telah meningkatkan biaya material impor dalam denominasi USD, secara tidak langsung memberikan tingkat dukungan bagi harga baja domestik Eropa.