[JSW Steel’s August Crude Steel Output Rises 3% Year on Year]

[Turkey] Lifted by a broader global uptrend driven by rising raw material and finished steel prices in countries such as China, India, and Vietnam, Turkish flat steel prices moved broadly higher. Both domestic and export hot-rolled coil (HRC) quotes increased to 595 USD/tonne, while import offers also rose to 550 USD/tonne CFR, with buyers expecting a discount of at least 50 USD/tonne compared to domestic resources. According to SMM research, climbing raw material costs in China have pushed up HRC offers, and with the approaching Chinese holidays, the willingness of sellers to lower prices remains limited; consequently, these rising import costs have bolstered the firm pricing intentions of local Turkish mills. Although some buyers argue that current end-user demand is insufficient to support the high levels targeted by producers, the global steel price recovery has effectively boosted optimistic market sentiment. Furthermore, firmer HRC prices from India and Vietnam have indirectly pulled up Turkish export quotes. Compounded by European buyers returning to the market following the summer break, the demand side is gradually entering its traditional peak season.

[Europe] European hot-rolled coil (HRC) prices continued their upward trend, with Northwest European HRC quotes rising to 745 EUR/tonne ex-works (~865 USD/tonne), while Italian prices edged down slightly to 733 EUR/tonne ex-works (~852 USD/tonne). Certain Northwest European mills have already accumulated nearly 10,000 tonnes of orders for October shipments at 740–750 EUR/tonne ex-works and are likely to push up offers in the near term, currently facing little pressure to secure new bookings. Furthermore, German steelmaker Thyssenkrupp's upcoming planned blast furnace maintenance has intensified market concerns over tightening supply. Compounded by a lack of viable import alternatives, supply in the Southern European market has become particularly tight.

According to a report published on September 6, Manoj Kumar Agarwal, Chairman-cum-Managing Director of India’s Bharat Coking Coal Limited (BCCL), inspected several mines in the Sijua area and Pathardih Washery. He called for better utilisation of existing capacity, improved operational efficiency and higher coal dispatch to meet growing power-sector requirements. At Pathardih Washery, he directed officials to raise washed power coal dispatch to power plants from the current one rake per day to three.