[SMM Iron & Steel] US Weekly Raw Steel Production Trends Upward

This week, Lecong HRC inventory was 972.1 kt, down 17.9 kt WoW, a decline of 1.81%. On a YoY basis, it rose 34.03% relative to the Gregorian calendar, and 41.50% relative to the Chinese lunar calendar.

Provisional data from the Federal Statistical Office revealed that production in Germany's manufacturing sector grew by 0.2% month-on-month in June 2026, driven significantly by a 3.6% expansion in the automotive industry. The consecutive monthly growth offers a modest demand buffer for domestic flat steel producers facing an otherwise stagnant macroeconomic environment. However, industry groups warn that critically low water levels on the Rhine River could throttle supply chains and erase these gains in the third quarter.

The Philippine Iron and Steel Institute (PISI) submitted its 2026-2040 industry roadmap to the government's Board of Investments, targeting an increase in domestic apparent steel consumption to 21.4 million metric tons by 2040, up from 9.9 million metric tons in 2024. The strategic plan expects to push finished domestic long steel production to 4.2 million metric tons over the same period, aiming to reduce supply chain gaps and attract foreign capacity investments.