Data: SHFE, DCE market movement (Sep 21)

[India Export] At the beginning of this week, Export prices for HRC held flat at 640USD/tonne FOB India and 715–730USD/tonne CFR North Europe, while billet remained around 470USD/tonne FOB India. European buying remained cautious as participants awaited clarity on quota implementation and shipment timing; the additional FTA quota cannot yet be treated as operational because the agreement has not entered into force. Mumbai HRC was heard at around 668USD/tonne (64,000INR/tonne) ex-yard and 626–632USD/tonne (60,000–60,500INR/tonne) EXW, excluding GST, with a possiblity of further rise this week. Higher coking-coal and met-coke costs continued to support domestic pricing, while export demand remained subdued.

[Vietnam] ASEAN HRC prices slipped to USD 535/tonne CFR Vietnam, while workable indications fell further to around USD 530-535/tonne CFR. Buyers largely stayed out of the market this week due to high domestic inventories and limited appetite for additional imports. Chinese-origin Q195 HRC was reportedly traded at around USD 502-505/tonne CFR Vietnam last week, but buying interest has weakened this week following earlier restocking, leaving near-term import activity subdued.

[Indonesia] Now, the Price of HRC is considered around 520-523 USD/ton FOB. This is due to the mill trying to match the gap between the buyer & user. As the price is considered already high but the demand is there as they are trying to fulfill the needs for the end of the year. But in the news, the demand is considered back again as the delivery is already in January 2027. The one that should be looked at is the situation at next week that in China is considered off season as they will have holiday for a week. So, if the indonesia's price is following the China's price, this one will be important for the next week at least.