Upside Room Of Iron Ore Prices Will Be Limited After Chinese New Year 

The Italian steel group Marcegaglia signed an agreement on April 15, 2026, with technology partner Danieli to construct a new steel mill in Fos-sur-Mer, France. Known as the "Mistral" project, the total investment is estimated at €1 billion, with the plant expected to produce over 2 million tons of steel annually via Electric Arc Furnace (EAF) technology and up to 3 million tons of hot-rolled coil (HRC). Utilizing scrap metal and low-carbon Direct Reduced Iron (DRI) powered by nuclear and renewable energy, the facility aims to reduce CO2 emissions by 80% compared to traditional blast furnace routes.

【SMM Steel】On Apr 10, 2026, the Guixin Steel Indonesia project, a JV between Guangxi Guixin Steel Group and Tsingshan Holding Group, was fully commissioned at the Tsingshan Industrial Park in Central Sulawesi. The project involved converting a former nickel-iron BF into a 1,216m³ carbon steel BF. The facility includes a 210㎡ sinter plant, two 12㎡ shaft furnace pelletizing units, a 100T BOF, and full-process CC & HR lines. It will produce >1.8 Mt/y of quality steel billets/products. SMM understands it currently mainly produces slabs, with billets expected in August and HRC later. The capacity will fill regional carbon steel gaps and impact semi-finished/flat steel trade flows in SE Asia.