[SMM Malaysia Weekly Review] Malaysian HRC Prices Rise W-o-W, Rebar and Wire Rod Prices Decline

Türkiye was undoubtedly the strongest performing market globally this week, as the "cost-push" logic fundamentally transformed into a "price-volume double play." On the long steel front, domestic rebar ex-factory prices surged by approximately 13USD/tonne over two weeks to 592 USD/tonne EXW (excl. VAT). Spot trading was exceptionally hot—within an hour of Kardemir posting its new offer of 595 USD/tonne EXW, approximately 35,000 tonnes of rebar were snapped up, while 120,000 tonnes of billet (at 535 USD/tonne EXW) sold out in minutes. Offers from major Marmara mills pushed higher to 610–615 USD/tonne EXW, while Izmir and Iskenderun stabilized at 587–590 USD/tonne EXW. With imported scrap holding steady at 375 USD/tonne CFR, spot margins for major mills expanded noticeably; however, buyers have begun showing resistance to further price hikes, refraining from aggressive restocking. The export market fired synchronously: rebar export quotes held firm at 590–595 USD/tonne FOB, wire rod strengthened to 600–605 USD/tonne FOB, and flat steel followed suit, with HRC export offers moving up to 580 USD/tonne FOB. H1 customs data confirmed a structural redrawing of Türkiye's export map: rebar exports to the EU plummeted by 28.4%, but volumes to MENA and Latin America surged; HRC's EU market share fell off a cliff in June, dropping from nearly 80% to 54.7%. Looking ahead to next week, the market is expected to maintain its strong posture, anchored by critically low inventories and a solid cost floor, though further upside depends on whether scrap prices can follow suit.

[India]Tata Power Renewable Energy Ltd (TPREL) has commissioned a 72.5megawatt (MW) captive solar project at Kalasar, Bikaner, Rajasthan, developed for Tata Steel Ltd. The project is expected to generate around 166million units of green energy annually. The project will help reduce carbon emissions and uses 171,360 modules from TP Solar Ltd. supporting Tata Steel’s decarbonization efforts. The project uses 171,360 solar modules manufactured by TP Solar Ltd. TPREL’s total renewable utility capacity has reached 12.3 gigawatt (GW), including around 7 gigawatt (GW) of operational capacity and 5.3 gigawatt (GW) under implementation. The project supports India’s target of achieving 500 GW of non-fossil fuel capacity by 2030 and Tata Power’s vision of a sustainable energy future.