Global steel and raw material prices declined for the most part in September 2025, with Chinese iron ore fines (up $4/t m-o-m), Indian imported coking coal (stable m-o-m), and Japanese hot-rolled coils (HRCs) (stable m-o-m) being the few exceptions.
Overall, for most finished steel commodities, markets witnessed sluggish offtake, which led to the downtrend in pricing last month. Trade protectionist measures kept buyers in a guarded mode, while competitive export pricing from China continued to capture demand.
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