China's February Auto Sales Drop 15.2% YoY, Exports Up 52.4%

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.