[SAIL Targets 3 Million mt of Subgrade Iron Ore Sales from 32 Million tonnes Stockpile]

Bharat Heavy Electricals Limited’s Haridwar plant has opened a tender for 40 tonnes of ferromolybdenum. The procurement uses a reverse auction and may be split 60:40 between up to two suppliers. The delivery schedule calls for 25 tonnes within 30 days of the contract start and 15 tonnes within 60 days. Under the price-adjustment formula, 80% of the invoiced price is linked to the Argus 60% Mo ferromolybdenum ex-works India index. The tender also includes a quantity option of up to 25%. No award or transaction price has yet been disclosed.

[India Export] Indian HRC export prices remained unchanged at 660USD/tonne FOB India for Europe and 730-750USD/tonne CFR North Europe, while Vietnam-bound HRC held at 567.5USD/tonne CFR. Last-heard European deals were at 720–730USD/tonne CFR, with subsequent offers at 740–750USD/tonne CFR yet to be confirmed in fresh transactions. European buying remained cautious, with distributors holding sufficient inventories and limiting restocking, even as higher costs and supply constraints supported mills’ price expectations. Chinese HRC offers were last heard at 580USD/tonne CFR India, while Indian billet exports were assessed unchanged at 467.5USD/tonne FOB India. Domestically, Mumbai HRC remained at approximately 656USD/tonne (63,000INR/tonne) EXW, excluding GST. Higher coking-coal costs continued to support domestic mill sentiment, while market participants cited expectations of stronger post-monsoon infrastructure and automotive demand.

[Vietnam] Vietnam's import HRC market remained stable, with ASEAN HRC assessed at USD 537/tonne CFR Vietnam. Indonesian-origin SAE1006 HRC was offered at around USD 538/tonne CFR, while buyers indicated bids near USD 532/tonne CFR, leaving limited prospects for deals due to the wide gap. Indian-origin SAE HRC was available at around USD 550/tonne CFR but attracted little buying interest.