[SMM Steel]

Iron ore concentrates in the Tangshan area are relatively stable, with 66% grade dry basis, tax-inclusive EXW prices at 960-970 yuan/mt. On the supply side, overall resources at mines and beneficiation plants are relatively tight, providing some support to ore prices. On the demand side, hot metal production of local steel mill blast furnaces remains at a relatively high level, continuing to support demand for iron ore concentrates.

Steel Exchange India Limited produced around 24,824tonnes of rebar in August 2026, its highest monthly output since inception, following the commissioning of a new reheating furnace at its rolling mill. The total comprised approximately 17,358tonnes from continuous casting machine operations and 7,465tonnes from the reheating furnace. The company has an installed TMT rebar production capacity of 357,000tonnes/year at its integrated steel plant near Visakhapatnam. It expects the new furnace to support higher rolling-mill utilisation, production volumes and operational efficiency. SEIL markets its rebars under the SIMHADRI TMT brand.

[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.