Data: SHFE, DCE market movement (Jul 10)

[SMM Steel] Market feedback indicates that the selling price for Q235B HRC with a specification of 3.5*1250*C for October shipment is $500/mt FOB, with the port of loading being Jingtang Port.

[India] India’s domestic steel and scrap market sentiment remained firm with prices moving higher across finished steel, semi-finished steel and scrap. Alang Shipbreaking prices also strengthened, while melting scrap edged lower from Friday. Overall, market sentiment was positive, supported by steady buying interest and firm raw material costs. Mumbai Rebar prices up by 1.04USD/tonne (100INR/tonne) to 501.55USD/tonne (48,000INR/tonne) EXW Mumbai. Billet prices increased by 10.45USD/tonne (1,000INR/tonne) to 464.98USD/tonne (44,500INR/tonne) delivered Mandi. Alang 8Ani (12mm) plate prices increased by 5.22USD/tonne (500INR/tonne) to 428.41USD/tonne (41,000INR/tonne) ex-yard Alang. Melting scrap prices edged down by 1.04USD/tonne (100INR/tonne) to 361.54USD/tonne (34,600INR/tonne) ex-yard Alang. Bellary PDRI sponge iron prices up by 4.18USD/tonne (400INR/tonne) to 292.57USD/tonne (28,000INR/tonne) EXW Bellary. Mandi Gobindgarh HMS 1&2 (80:20) increased by 10.45USD/tonne (1,000INR/tonne) to 375.12USD/tonne (35,900INR/tonne) delivered Mandi.

[India] India’s steel market remained broadly stable, with HRC heard at 596–601USD/tonne (57,000–57,500INR/tonne) EXW Mumbai. Billet export indications stood at 460–480USD/tonne FOB India depending on the seller, with the wide range reflecting differing offer positions. Imported scrap remained firm, with Africa-origin HMS 1&2 (80:20) indicated at 360USD/tonne CFR India and shredded scrap at 390USD/tonne CFR India. With Vietnamese HRC at approximately 515–522USD/tonne CFR Ho Chi Minh City, most exporters from India refrained from offering material in that market. Overall market activity remained cautious amid differing seller expectations and limited clarity on executable billet levels.