[SMM Steel] India Domestic Steel Prices Ease on Slow Demand, Cautious Buying

[India Export] Indian HRC export indications held at 640USD/tonne FOB India and 715–730USD/tonne CFR North Europe on September 24, while billet remained at 465–470USD/tonne FOB India. No fresh transactions were reported at these levels. Firm domestic HRC realisations and limited spot availability kept mills focused on local sales, while European buyers remained cautious about quota access and shipment timing. The wider export market was similarly quiet: Chinese HRC prices were broadly stable with limited sales to distant destinations, and GCC buyers continued to purchase selectively.

[Rebar] Today, rebar export quotations at Tianjin Port dipped slightly by USD 1/ton, with overall transaction prices ranging from USD 480-485/ton. A few mills have been performing relatively well in order intake recently, and hold an expectation that prices will strengthen going forward, with some raising their offers. On transactions, exporters reported that both market inquiries and deals were modest today, with no notable increase in volume.

[SMM Steel] Market feedback: Currently, the FOB price for B500B rebar with a specification of Φ18mm is quoted at USD 483/ton, with the loading port being Tianjin Port.