[SMM Steel]

[India Export] Indian HRC export sentiment remained firm, with offers into Vietnam heard at around 550USD/tonne CFR. Formosa Ha Tinh’s latest offer into Hai Phong was 532USD/tonne CIF for cargoes of at least 20,000tonnes, with smaller-volume offers ranging from 535–543USD/tonne CIF, depending on tonnage. With these levels in Vietnam, the market remain commercially unviable for Indian sellers as they showed limited willingness to reduce offers amid stronger domestic realizations and elevated raw-material costs. Indian HRC CFR Europe levels remained broadly stable, with market sentiment supported by firmer European prices and constrained availability. Domestically, Indian HRC was around 628–649USD/tonne (60,000–62,000INR/tonne) EXW Mumbai. Overall sentiment remained firm, supported by higher coking-coal costs and expectations of stronger post-monsoon demand, giving Indian mills little incentive to chase lower-priced export business in Vietnam.

[Sheets & Plates] Today, export prices for hot-rolled coils and other sheets & plates rose $1-2/mt WoW, with transaction prices for hot-rolled coils concentrated in the $491-496/mt range. Market inquiries showed some improvement, and domestic sellers mostly maintained higher offer levels.

[Rebar] Today, rebar export quotations at Tianjin Port remained stable, with overall transaction prices ranging from USD 483-488/ton. According to exporters, export inquiries improved today, with small-batch orders concluded from buyers in the Americas. However, some steel mills in North China quoted notably higher, at up to USD 497/ton, where transactions