Miners hold firm pricing stance, manganese ore market holds up well [SMM Manganese Ore Daily Report]

[Plate/HRC]HRC export down USD 2-3 d/d to 486-491; mills hold offers, trade muted HRC and other flat-product export prices fell USD 2-3/tonne day on day, with HRC export deals in the 486-491 USD/tonne range. Some mills kept relatively high offers, but overseas inquiries and actual deals were mediocre and the market stayed largely wait-and-see. [Billet]Export billet FOB weak-stable at 458-460 ex-Jiangyin; fierce competition, some deals below 455 Export billet FOB was weak-stable, quoted at 458-460 USD/tonne ex-Jiangyin. Competition was fierce, with export billet orders aggressively bid down and final deal prices pressed lower — some traders concluded FOB below 455 USD/tonne, and several East-China mills stopped taking orders at such low levels; overall trade was mediocre. [Rebar]Rebar export down USD 1 to 479-484 ex-Tianjin; buyers press, trade weak Tianjin rebar export prices edged down USD 1/tonne day on day to 479-484 USD/tonne. Downstream sentiment was wait-and-see with buyers pressing on price and sellers reluctant to sell low; deal intent was subdued and volumes stayed weak. [Turkey]Turkey HRC domestic breaks below 600, export eases to 580 FOB as EU route stalls Turkish HRC domestic prices slid faster this week, with mainstream ex-works breaking below USD 600 — down 10 to 590 USD/tonne EXW — while export offers eased 5 to 580 USD/tonne FOB. With the EU route blocked, cargoes flowed back into the domestic market, intensifying competition; mainstream mills have booked September orders and some can offer late-August spot. Quarter-to-date EU clearance topped 370kt, far above the 160kt quarterly quota; a recent deal to Greece (October shipment) was concluded at 580-585 USD/tonne FOB. [EU]EU safeguard tightens: over-quota tariff to 50%, in-transit cargoes diverted Since the EU's new steel safeguard took effect on 1 July — sharply cutting the tariff-free quota and lifting the over-quota tariff to 50% — with the implementing rules published only on 30 June, numerous in-transit orders have been forced to divert: part of the Indonesian and Thai HRC cargoes were re-routed to North Africa (the rest cancelled or renegotiated), while Brazilian CRC cargoes were diverted to the UK. The higher quota wall is reshaping import flows into the EU. [Southeast Asia]SE-Asia HRC import eases to 523 CFR; Indonesia steady, Vietnam standoff Southeast Asia HRC import offers eased to 523 USD/tonne CFR this week. Indonesia's offers to Vietnam held steady at 520-525 USD/tonne CFR, but Vietnamese buyers' target prices were low, leaving a wide bid-offer gap and a standoff. On the export side, a mainstream Vietnamese mill last week shipped HRC to Korea at 545-550 USD/tonne CFR. [India]India HRC CFR-Europe down 10 to 640; mills rush EU quota, FOB 560-570 India's HRC CFR-Europe assessment fell 10 to 640 USD/tonne this week, with FOB at 560-570 USD/tonne. Nominal CFR was quoted 650-660, but bulk deals were discounted to 635-640 (small lots above 650). EU customers booked about 100kt over the past two weeks, prompting mills to rush shipments; under 50kt of the EU's 149,319-tonne HRC quota remains uncleared, with dispatch concentrated in July-August; Middle East trade was disrupted by shipping and port congestion.