Data: SHFE, DCE market movement (Sep 22)

[India Export] Indian HRC offers to Europe remained firm at around $640/tonne FOB India and $715–730/tonne CFR North Europe, although trading was slow and no fresh transactions were confirmed. Firm coking-coal prices continued to support mill offers. Chinese HRC was offered at $550–555/tonne CFR India; after adding the 12% import duty and other landing charges, its landed cost would be broadly comparable with the prevailing Indian domestic price of $668/tonne (INR 64,000/tonne) ex-yard Mumbai, limiting the price advantage of imported material. Domestic HRC prices remained supported by steady buying, firm raw-material costs and temporarily lower supply during maintenance shutdowns. A major Indian steelmaker’s HRC mill is currently undergoing maintenance. Such shutdowns typically last 7–10 days and are not expected to materially disrupt deliveries, but the temporary reduction in availability is sufficient to keep domestic prices firm.

Saudi steel pipe producer East Pipes Integrated Company for Industry has signed a contract worth about SAR 20 million ($5.3 million), including VAT, with Saudi Arabian Oil Company (Aramco) for the manufacture and supply of steel pipes. The contract was signed on September 15, 2026, with a duration of four months, though the volume and specifications of the pipes were not disclosed. The financial impact is expected in the fourth quarter of the company's 2026-27 financial year.

Japanese steelmaker Nakayama Steel Works has suspended operations at the hot strip and plate mill of its Funamachi Plant in Osaka following a fire on September 12. The fire broke out at around 2:50 am and was extinguished at approximately 3:20 am, with no injuries reported, but it damaged some power cables used for the heating furnace and other equipment. The cause remains under investigation, and no restart timeline has been set, while downstream processing lines continue operating normally.