[SMM Steel] Hyundai Steel, POSCO sign contract for US low-carbon steel plant

Thyssenkrupp Steel has announced an investment of €2.4 million into a new testing facility at its Duisburg site to evaluate the "iron ore of the future." This initiative focuses on the chemical and physical characterization of high-purity ores and pellets required for hydrogen-based direct reduction (DR) plants. As the industry moves away from traditional coal-based blast furnaces, ensuring a stable and efficient supply of DR-grade feedstock is critical for the success of Thyssenkrupp's decarbonization strategy, which targets its first climate-neutral steel production by the end of 2026.

The Australian federal government has granted "Major Project Status" to the Razorback Magnetite project in South Australia, recognizing its potential to provide high-grade iron ore feedstock for the green steel industry. This status streamlines regulatory approvals for the $2 billion project, which is designed to produce 68.5% Fe concentrate essential for hydrogen-based direct reduction ironmaking. The project is a key part of Australia's strategy to move toward higher-value mineral processing as global steelmakers seek to reduce their Scope 3 emissions through higher-purity inputs.

State-owned NMDC Limited reported a record-breaking performance for the fiscal year ending March 2026, achieving its highest-ever annual output of 53.15 million tonnes, a 21% increase year-on-year. This surge was supported by a massive 51% production spike in March alone as the company pushed to meet national infrastructure targets. Despite the record domestic volume, the mismatch between local low-grade output and the high-grade requirements of advanced steel mills continues to drive India's increasing reliance on seaborne procurement for its premium feedstock.