Indian HRC firmed in September as stronger domestic prices reduced mills’ incentive to discount exports. Europe’s premium hinged on quota access and timely clearance, while weak Asian demand and softer billet limited wider export support.

For near-term Indian hot-rolled coil (HRC) trade, the tighter constraint remains customs access. India's standard UK Category 1 quota was already 91.97% utilised on September 25, while the transitional contract exemption ends on September 30. The larger authorised-use route offers more potential volume, but it is a global pool subject to a 40% country cap and specific downstream-processing conditions; it is not a reserved Indian quota.

The New South Wales Independent Planning Commission has approved the mine-life extension of Hunter Valley Operations (HVO), jointly owned by Yancoal and Glencore, allowing the operation to continue until 2045, subject to federal environmental approval expected by December 2026. The revised plan allows around 429 million tonnes of additional coal extraction. HVO produces mainly thermal coal and semi-soft metallurgical coal. HVO North was previously due to cease operations in 2026, while HVO South was approved to operate until 2030.