[ECL Sells 413.5 Tonnes of Scrap, Generates INR 2.21 Crore]

[India Domestic] India’s domestic steel market remained weak with prices mostly trending downward. Demand was subdued with buyers less active and trading volumes limited due to the ongoing Navratri festival and Dussehra on Tuesday. Market activity may improve next week after the festival, although a significant price movement will depend on a recovery in buying interest. Mumbai rebar down 7 USD/tonne (700 INR/tonne) 559 USD/tonne (53,000 INR/tonne) EXW Mumbai. Raipur Rebar declined 4 USD/tonne (400 INR/tonne) to 541 USD/tonne (51,300 INR/tonne) EXW Raipur. Raipur billet edged down 1 USD/tonne (100 INR/tonne) to 464 USD/tonne (44,000 INR/tonne) EXW Raipur. Mandi ingot up 2 USD/tonne (200 INR/tonne) to 492 USD/tonne (46,700 INR/tonne) EXW Mandi. HMS 1&2 (80:20) unchanged 397 USD/tonne (37,700 INR/tonne) delivered Mandi. Raipur PDRI sponge iron down 3 USD/tonne (300 INR/tonne) to 292 USD/tonne (27,700 INR/tonne) EXW Raipur.

India’s Coal Ministry has proposed amendments allowing suspension of coal and lignite mining operations for violations of approved mining plans. The draft rules provide for a 15-day show-cause notice in cases of continued non-compliance and require annual board-level compliance declarations. Authorities may suspend mining operations fully or partially if the response is unsatisfactory. The proposed measures could have implications for the coal supply chain linked to the steel industry, although their direct impact on coking coal availability and steel production remains uncertain.

The silicon steel line renovation project in the steelmaking plant south zone of Guangxi Shenglong Metallurgy Co., Ltd. is located within the existing plant area of Guangxi Shenglong Metallurgy Co., Ltd. in the port area of Fangchenggang. Construction scale and content: annual output of 3.4 million mt of slabs. The existing steelmaking production line in the south zone of the steelmaking plant will undergo technical renovation and operational optimization; the original two 150t LF ladle refining furnaces will be changed to one in operation and one on standby, the original No.1 continuous casting machine will be dismantled, and one RH furnace and its supporting public and auxiliary facilities will be built. At the same time, the existing No.2 and No.3 continuous casting machines and their supporting public and auxiliary facilities will undergo technical renovation and operational optimization to achieve continuous production of high-grade grain-oriented silicon steel and non-oriented silicon steel.