Pre-holiday stockpiling extends decline in iron ore port stocks

[Aluminum Scrap and Secondary Aluminum Weekly Review: ADC12 Consolidates on a Strong Note amid Rising Costs and Marginal Order Improvement] In terms of price spreads, on September 10, the price difference between A00 aluminum and mixed aluminum extrusion scrap free of paint in Foshan was about 2,436 yuan/mt, and the price difference between A00 aluminum and shredded aluminum tense scrap was about 1,415 yuan/mt, both widening slightly again WoW. On the supply side, the tight raw material supply pattern remained unchanged, and the scarcity of compliant, invoiced aluminum scrap continued to rise, constraining scrap utilization enterprises' operations and procurement. Against this backdrop, some aluminum scrap yards...

[India Domestic] The domestic steel market stayed firm with prices rising across semis and finished steel. Sponge iron led the gains as higher coal costs and tight material supply continue to push prices up. Raipur billet increased by 5.24USD/tonne (500INR/tonne) to 450.78USD/tonne (43,000INR/tonne) EXW Raipur. PDRI sponge iron up by 6.29USD/tonne (600INR/tonne) to 308.27USD/tonne (29,400INR/tonne) EXW Raipur. Bellary PDRI sponge iron rose by 8.38USD/tonne (800INR/tonne) to 317.68USD/tonne (30,300INR/tonne) EXW Bellary. In Bellary, sellers are quoting sponge iron at 316.63-317.66USD/tonne (30,200-30,300INR/tonne), while buyers are bidding lower at 315.56-316.63USD/tonne (30,100-30,200INR/tonne). Despite this gap, very little actual business has been concluded so far. Market participants noted, the wider coal dynamics are shaping this trend. As coal prices rose, imported coal briefly became cost-competitive compared to domestic coal, so buyers are moving back to domestic coal. This shift has left material availability tight. Mumbai Rebar up by 2.90USD/tonne (200INR/tonne) to 530.56USD/tonne (50,600INR/tonne) EXW Mumbai. Ingot up by 1.05USD/tonne (100INR/tonne) to 488.52USD/tonne (46,600INR/tonne) EXW Mandi.