[Vietnam] Hoa Phat Expands Refrigeration Manufacturing with USD50 Million Phu My Factory

India-based Welspun Corp Limited has secured the largest single order in its history, valued at approximately 1.8 billion USD (172 billion INR), for the supply of pipes from its US manufacturing facility. The order will be executed across FY2028 and FY2029 and is expected to strengthen the company’s multi-year revenue visibility and position in the North American energy-infrastructure market. Following the award, Welspun Corp’s global order book has reached a record 4.4 billion USD (421 billion INR), the highest level in the company’s history.

[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.