Songting Steel Hikes General Steel Billet Prices by 20 on Sept 15 - SMM Steel

According to incomplete statistics, since the beginning of this year, over 20 provinces and cities nationwide, including Guangdong, Hubei, Guizhou, Yunnan, as well as Chengmai County in Hainan, Lhasa City in Tibet, Huai'an City in Jiangsu, Jinjiang City in Fujian, and Urumqi City in Xinjiang, have introduced housing purchase subsidy policies. The biggest change in the above-mentioned policies is that, on top of the universal "everyone gets a share" inclusive bonus, the "customized gift package" is precisely targeted at specific groups. In the toolbox for regulating the real estate market, housing purchase subsidies are becoming increasingly refined and differentiated. The largest beneficiary group of the "customized gift package" remains high-level talent......

[Iran] Strait sinking and tightened sanctions cripple Iran's semi-finished exports Amid escalating geopolitical tensions, the effective closure of the Strait of Hormuz and a new round of US naval activity from July 14, Iran's semi-finished import/export market was quiet this week. A bulk carrier loaded with 43000 tonnes of billet collided and sank in the Strait of Hormuz, adding shipping uncertainty and leaving many vessels stuck at anchorage or cancelling voyages, forcing all seaborne export tenders to halt. Some mills tried offers at 410-415 USD/tonne FOB, but international buyers largely withdrew, with only small billet truck deals booked at the Afghan border. Meanwhile tight supply lifted domestic billet to 423 USD/tonne, sharply inverting domestic and export prices.

The iron ore market saw narrow fluctuations today, with the DCE main contract I2609 eventually closing at 759.5 RMB/ton, unchanged from the previous day.