On June 10, a steel mill in Liaoning set a ferromolybdenum tender price of 310,700 yuan.

[India] India’s steel market remained largely stable, with limited movement in domestic HRC and billet prices amid cautious trading. However, offers for regional HRC have increased over the past week. HRC offers into Vietnam were heard at around 530USD/tonne CFR. But buyers were reluctant to accept these levels. Imported scrap indications into India remained firm: West Africa-origin shredded scrap was heard at approximately 390USD/tonne CFR India, UK/EU-origin shredded scrap at around 400USD/tonne CFR India, and UK-origin HMS 1&2 (80:20) at approximately 360-365USD/tonne CFR India. Overall sentiment remained cautious, with firmer raw-material costs supporting seller expectations while steel buyers continued to resist higher offers.

[India] India’s domestic steel market saw prices increase across finished steel, semi-finished steel and scrap on Tuesday. Prices were supported by limited material availability, as some mills are under maintenance, while higher raw material costs also added pressure on prices. Buyers remained cautious with purchases but continued to restock as needed keeping the overall market sentiment firm. Mandi Billet prices increased by 2.09USD/tonne(200INR/tonne) to 467.12USD/tonne (44,700INR/tonne) delivered Mandi. Ingot prices rose by 467.12USD/tonne (200INR/tonne) to USD/tonne (44,700INR/tonne) EXW Mandi. Mumbai Rebar prices up by 2.09USD/tonne (200INR/tonne) to 503.70USD/tonne (48,200INR/tonne) EXW Mumbai. Alang 8Ani (12mm) plate prices increased by 3.14USD/tonne(300INR/tonne) to 431.59USD/tonne (41,300INR/tonne) ex-yard Alang. Melting scrap prices up by 4.18USD/tonne (400INR/tonne) to 365.75USD/tonne (35,000INR/tonne) ex-yard Alang. Mandi Gobindgarh HMS 1&2 (80:20) increased by 4.18USD/tonne (400INR/tonne) to 379.34USD/tonne (36,300INR/tonne) delivered Mandi.

[Rebar] Today, rebar export quotations at Tianjin Port remained stable, with overall transaction prices ranging from USD 478-483/ton. According to exporters, the rapid surge in both futures and spot prices yesterday has left the market largely in a wait-and-see mode. No significant changes were seen today, with market sentiment remaining cautious. Some mills believe prices may pull back.