7.17 SMM Global Steel Daily Report

Published: Jul 17, 2026 17:57

Save

[Plate/HRC]HRC export deals at 488-494 USD, flat d/d; overseas fears further downside and delays buying

HRC and other flat-product export prices were flat day on day, with HRC export deals in the 488-494 USD/tonne range. Overseas buyers reckon prices may still have room to fall and prefer to delay purchasing and watch the market even when holding orders, so little actual volume was released.

[Billet]Export billet FOB steady at 458-460 USD ex-Jiangyin; mills hold firm, deals face resistance

Export billet FOB held steady, quoted at 458-460 USD/tonne ex-Jiangyin. Domestic mills held offers firm, while importers' essential demand was soft and buyers' bids sat below sellers' floor, leaving spot deals hard to close and actual trade limited.

[Rebar]Rebar export flat at 480-485 USD; buyers press price and wait, trade thin

Rebar export prices were flat day on day, with deals at 480-485 USD/tonne. Some buyers pressed hard on price and stayed cautious, while domestic sellers, mindful of margins, were unwilling to sell low, so trade saw no meaningful release.

[India]India Mumbai HRC down ~3 USD w/w to 602 USD, monsoon curbs demand

Mumbai HRC fell about 3 USD/tonne week on week to 602 USD/tonne EXW, with transacted prices around 571-611 USD/tonne. Monsoon weather curbed construction and infrastructure demand, keeping spot buying and restocking weak while low-priced cargoes intensified competition; a soft, sideways tone is expected near term.

[Black Sea/CIS]Black Sea billet quiet and steady; Russian mills front-load for Q4 EU tariff-free quota

Black Sea billet trade was quiet with FOB offers steadying and to-Turkey quotes around 495-500 USD/tonne CFR; holidays plus soft demand slowed buyers' pace. Russian mills, racing to secure Q4 EU tariff-free quota, have brought some production forward.

[Indonesia]Indonesia SAE1008 wire rod at 485 USD, below China; SE-Asia off-season keeps trade thin

Indonesia's SAE1008 wire rod export offers held at 485 USD/tonne FOB, clearly below China's comparable ~509 USD/tonne FOB. With Southeast Asia in its seasonal lull, buyers' restocking appetite was limited and, despite the competitive price, actual deals stayed thin.

[Brazil/Vietnam]Brazil HRC import quotes down to 600-610 USD; Vietnam cuts prices, ~20kt booked

Brazil HRC import quotes slipped to 600-610 USD/tonne CFR, with about 20,000 tonnes of flat-product imports booked recently. Vietnam, the core supplier, was forced to cut offers to win orders against low-priced Indonesian and Indian material, while Brazil's strict import quotas and domestic credit tightening capped restocking.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

21 hours ago

[Domestic Iron Ore Brief] Next week, domestic ore price gains are expected to trail imported ore prices, and the price spread between domestic and imported ore is likely to continue narrowing.

The dry-basis, tax-inclusive EXW price of iron ore concentrates in East Liaoning edged down to 860 yuan/mt. According to feedback from mines and beneficiation plants, the local price spread between domestic and imported ore is around 60 yuan/mt, while local steel mills generally have a relatively strong desire to bargain down prices and expect to narrow the spread to around 20 yuan/mt. Local mines and beneficiation plants are mostly selling as usual at steel mills' purchase prices. However, iron ore futures recently drifted higher, and the price spread between domestic and imported ore may continue to narrow. Local iron ore concentrate prices are expected to have limited downside room.

21 hours ago

8.14 SMM Global Steel Daily Report

[Flat Products]Today some HRC and other flat-product export prices rose 1-2 USD/tonne day on day, with HRC transaction prices at 484-487 USD/tonne. Market participants report that the enquiry atmosphere for hot-rolled coil is rather quiet, while cold-rolled and coated grades are performing somewhat better, with low prices releasing some business. [Billet]Today billet export FOB prices ran steady to firm, rising 1 USD/tonne, with Jiangyin port offers at 449-454 USD/tonne. According to market feedback, the basis is currently at a reasonable level, many domestic traders were covering short positions, and export business improved. [Rebar]Today rebar export offers at Tianjin port were steady, with overall transaction prices at 472-477 USD/tonne. According to exporters, overseas enquiries were fair in the morning session, but futures fell back in the afternoon and market sentiment returned to cautious watching, with no clear pick-up in volume

21 hours ago

MMi Daily Iron Ore Report (August 14)

Iron ore futures traded firmer today. The DCE most-active contract I2701 settled at RMB 710.5/mt, up 0.42% from the previous session. Spot prices at Qingdao Port rose RMB 5-9/mt from the previous trading day. Traders were active in offering, while mills showed limited enquiry, leaving overall spot transaction volumes moderate as of press time.

21 hours ago