[SMM Steel] India Billet Export Indications Reach 470 USD/tonne FOB; Vietnam Resists Higher HRC Offers

Published: Aug 20, 2026 15:04

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[India] India’s billet export indications strengthened to around 470USD/tonne FOB India, although the level was heard as an indication rather than a confirmed transaction. Indian HRC offers to Vietnam rose to 520–525USD/tonne CFR, but Vietnamese buyers remained unwilling to accept these levels, limiting trading activity. Ferrous scrap also maintained a firm tone, with European-origin shredded scrap indicated at 420–422USD/tonne CFR Port Qasim.These regional price signals supported sentiment and reduced the scope for lower offers into India. Overall, seller expectations and raw-material prices are strengthening, but continued resistance from finished-steel buyers is restricting transaction liquidity.

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[SMM Steel] Indian steel billet export offer rose to $470/mt FOB, while Vietnamese buyers have limited acceptance for higher hot rolled coil offers.

[India] Indian steel billet export offers strengthened to around $470/mt FOB India, but this price level is only heard in the market with no deals confirmed yet. Indian HRC offers to Vietnam rose to $520–525/mt CFR, but Vietnamese buyers were unwilling to accept this level, limiting market trading activity. The steel scrap market also remained firm, with European shredded scrap offers at $420–422/mt CFR Port Qasim. The above regional price signals supported market sentiment and compressed the room for downward price adjustments in the Indian market. Overall, seller price expectations and raw material prices are strengthening, but finished steel buyers continue to resist high prices, still limiting actual transaction activity.

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