[Krakatau Steel Continues Transformation, Ranks in Fortune Indonesia's 100 Biggest Companies]

[India Export] Indian HRC sellers were heard seeking around 660USD/tonne CFR Europe, with some targeting as high as 680–690USD/tonne. Meanwhile, SMM tracking suggests that primary Indian steelmakers are loading close to 70,000tonnes of HRC and steel plates at Indian ports. These cargoes appear unlikely to be Europe-bound because substantial India-origin volumes are already en route, while additional material is held at European customs warehouses awaiting clearance. Market participants therefore expect most new Europe-bound shipments to be timed against the next quarterly quota window. The destinations of the cargoes currently being loaded remain unconfirmed, although the Middle East and other non-European markets are possible outlets. Indian billet export indications remained at 465–470USD/tonne FOB India. Domestically, HRC was around 632–653USD/tonne (60,000–62,000INR/tonne) EXW Mumbai. Demand could revive as the monsoon recedes and construction activity improves, while market participants reported tight coking-coal availability and expect prices to rise, potentially providing further cost-side support to Indian steel prices.

Al Yamamah Steel Industries' subsidiary, Al Yamamah Company for Reinforcing Steel Bars, has signed a Shariah-compliant credit agreement worth SAR 500 million (approximately $133.3 million) with Arab National Bank to finance a planned steel billet production plant in Saudi Arabia. The seven-year financing is secured by a promissory note, with plant capacity and location details not yet disclosed. This follows a SAR 270 million contract signed with Italian equipment manufacturer Danieli in July for billet production equipment, part of Al Yamamah's push to expand its billet production capacity and production chain.

Short-duration intense rainfall with hourly precipitation of 0.03-0.05 meters is expected across most of Shanghai's central urban areas before midnight tonight. The Shanghai Meteorological Observatory issued a blue rainstorm warning signal for the central urban areas at 12:25 on September 2, 2026. The Shanghai Flood Control Headquarters decided to simultaneously activate the Level IV flood and typhoon response for the central urban areas.