【SMM Steel】Salzgitter, Volvo Cars launch ScanLoop circular steel project

[SMM Steel] Tata Steel Limited announced on March 18, 2026, the merger of its wholly-owned subsidiary, Nilachal Ispat Nigam Limited (NINL), to consolidate its long products business. The merger aims to enhance management efficiency and accelerate capacity expansion at the Odisha mill from 0.98 million mt to 4.8 million mt. Additionally, the board approved a $2 billion investment in its Singapore-based subsidiary, T Steel Holdings Pte Ltd (TSHP), starting in FY 2026-27 to support overseas operations, fund capex, and restructure existing debts.

Today， DCE iron ore futures were in the doldrums today. The most-traded contract, I2605, finally closed at 811 yuan/mt, down 0.12% from the previous trading session. Spot prices fell by about 2-5 yuan from the previous trading day.

[China Iron Ore Brief Review: Tight Resources in West Liaoning, Local Ore Prices May Edge Up Slightly] The domestic ore market in west Liaoning was relatively stable, with the ex-factory prices of 66-grade iron ore concentrates, wet basis and excluding tax, at 730-740 yuan/mt. Supply and demand were clearly in a wait-and-see mode. Beneficiation plants, considering the relatively small inventory pressure, temporarily held back from selling. Against this backdrop, traders were not highly motivated to make inquiries, and only a few made price inquiries based on their own needs. Affected by safety and environmental protection inspections, mining was restricted, and a small number of operating beneficiation plants suspended production for maintenance due to constraints in ROM resources. Circulating spot resources remained tight, which still provided certain support for ore prices.