[SMM Steel]

[Sheets & Plates] HRC and other sheets & plates export prices rose $1-2/mt WoW today, with some products holding steady. HRC transaction prices were concentrated in the $492-495/mt range. Recently, China's price advantage has been greater than outside China, and with the upcoming dual festivals, overseas purchasing activity has improved significantly, leading to better market transactions.

[India Export] Indian HRC offers into Europe rose to 715–730USD/tonne CFR late on September 16. No transactions were confirmed at these levels, as market participants continued to await clarity on quota availability and customs-clearance timing. Buyers remained cautious about committing to fresh cargoes until the duty-free access position for Indian-origin material became clearer. Billet export indications were heard at 470USD/tonne FOB India. In the imported scrap market, HMS 1&2 (80:20) was heard above 375USD/tonne CFR India on September 17, compared with 360–370USD/tonne CFR Nhava Sheva/Mundra for UK/US-origin material on September 16. Shredded scrap increased to approximately 410–415USD/tonne CFR India, from 405–410USD/tonne previously. Suppliers said sales to India had been paused for about a week because of PSIC-related issues, while the Chattogram market remained quiet for several days. In the domestic HRC market, mill levels were heard at approximately 625–631USD/tonne (60,000–60,500INR/tonne) EXW, while ex-yard Mumbai indications were around 667USD/tonne (64,000INR/tonne), excluding GST.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 17 Sep , 2026