[SMM Iron & Steel] Mesabi Metallics Secures $520 Million for Minnesota Iron Ore Project

The World Steel Association reported on March 25, 2026, that while global crude steel production fell by 2.2% in February, India’s production surged by 7.7% year-on-year to reach 13.6 million tonnes. This growth is driven by the government's aggressive infrastructure spending and the "Make in India" initiative, which has bolstered domestic steel consumption. The increase in Indian output helps offset production declines in Russia and South America, as the country moves toward its national goal of 300 million tonnes of annual capacity by 2030.

The European Commission (EC) officially launched an investigation on March 30, 2026, into imports of grain-oriented electrical steel (GOES) from several non-EU countries. GOES is a critical high-value component used in the manufacturing of power transformers and electrical equipment essential for the continent's energy transition. The investigation aims to determine whether imported products are being sold at unfairly low prices that damage European domestic producers and follows a broader trend of increased trade defense measures as the EU implements the Carbon Border Adjustment Mechanism (CBAM) this year.

Global metallurgical producer Ferroglobe officially warned on March 31, 2026, that it will be forced to shut down its smelting operations in South Africa if it does not receive electricity tariff relief by April 1. The company, which operates facilities in Polokwane and Mpumalanga, stated that soaring energy costs have made continued production tenable. This potential closure threatens thousands of direct and indirect jobs and follows the broader trend of industrial contraction in South Africa, where only 11 of the nation's original 66 smelters remain operational due to uncompetitive power pricing.