[Vietnam's Southern Steel advances green transition via EAF circular production]

[India Export] India’s HRC export prices for Europe remained at 660USD/tonne FOB India on October 5, with the Northern European reference unchanged at 730USD/tonne CFR, retaining previous week’s levels. European buying remained selective amid moderate-to-high inventories and uncertainty over quota access and CBAM costs. According to the European Commission’s October 2 update, India officially had 149,318.61tonnes of EU HRC quota available for October–December under Category 1A, order 09.9803. Requests to use 102,977.12tonnes were already waiting for approval. If all those requests are approved, only 46,341.49tonnes would remain for additional imports. Out-of-quota imports face a 50% duty, while melt-and-pour documentation requirements have applied since October 1. The Commission’s consultation on the functioning of the new steel quota regime, opened on September 28, runs until October 11 at 23:59 CEST and seeks feedback from steel producers, users and third-country exporters on its first-quarter impact. Domestically, Mumbai HRC remained at approximately 656USD/tonne (63,000INR/tonne) EXW.

India’s exports of steel, ferro-chromium and electrical equipment to South Korea rose strongly in Apr–Jun FY2026-27, reflecting robust demand for Indian industrial and engineering products.

[SMM Steel] India domestic steel and scrap prices continues to rise [India Domestic] Domestic steel and scrap market trended up from Oct 1 with prices rising across key markets while some remained flat. Unscheduled power cuts in Chhattisgarh have affected industrial operations, with production at several factories down by up to 35%. Power demand reached around 6,000 MW in September, while supply was reportedly short by 500–600 MW. Industry operators said 7–8 hours of night-time power cuts are affecting production, with the Mini Steel Plant Association also reporting lower output and losses. Mandi HMS 1&2 (80:20) up 3 USD/tonne (300 INR/tonne) to 412 USD/tonne (39,700 INR/tonne) delivered Mandi. Alang Melting flat at 395 USD/tonne (38,000 INR/tonne) ex-yard Alang. Mandi ingot up 1 USD/tonne (100 INR/tonne) to 506 USD/tonne (48,700 INR/tonne) EXW Mandi. Mumbai Rebar rose 6 USD/tonne (600 INR/tonne) to 557 USD/tonne (53,700 INR/tonne) EXW Mumbai. While, rebar unchanged 542 USD/tonne (52,200 INR/tonne) EXW Raipur. Raipur Billet up 2 USD/tonne (200 INR/tonne) to 474 USD/tonne (45,700 INR/tonne) EXW Raipur. Sponge iron PDRI unchanged at 309 USD/tonne (29,800 INR/tonne) EXW Raipur.