[SMM Steel] No Movement on the Price for Indonesia’s HRC

DSMT Steel & Energy has proposed new steelmaking and rolling capacity at Haridi in Purulia district, West Bengal, as the project moves through the environmental-clearance process. The proposed facilities include a billet plant with annual capacity of 660,000 tonnes and a rolling mill with capacity of 627,000 tonnes. The wider project also includes a proposed 165 MW captive power plant, while DSMT has separately sought environmental clearance for a 52,800-tonne-per-year grinding-media ball facility at the same location. The project remains at the planning and environmental-appraisal stage, and no commissioning schedule has yet been confirmed.

The Mongolian Stock Exchange said Erdenet Mining Corporation will auction 560 wet tonnes (499.408 dry tonnes) of molybdenum concentrate on September 24. The material contains at least 44% molybdenum, equivalent to no less than about 219.7 tonnes of contained metal. The opening price is $28,504.17 per dry tonne, about 0.7% above the opening level of the previous same-grade auction on September 10. As that sale closed 19.25% above its opening price, the new listing should not be treated as a transaction price. Delivery is scheduled for October–November on DAP Erlian terms.

Today, the iron ore futures market traded in a mildly firm range. The DCE main contract I2701 settled at 715 yuan/mt, up 0.14% from the previous trading day. Spot prices at Qingdao Port were largely stable compared with yesterday, with traders quoting on a market-following basis. Some steel mills still had restocking demand, while overall spot trading activity was moderate.