【SMM Steel】Trump signs proclamation further adjusting Section 232 tariffs, adds steel racks, lowers US content threshold

Algoma Steel Group Inc. announced its Lake Superior Power (LSP) generator facility experienced an unplanned outage on one of its turbine units, resulting in suspended production on its electric arc furnace (EAF). The affected turbine went offline automatically, with no other units impacted. Algoma is working with the grid operator on alternative power and with GE Vernova on a spare turbine, and expects the outage to last under 21 days, possibly as little as 10. Current delivery dates are not expected to be affected.

India's Jindal Stainless Limited plans to invest an estimated $94 million to expand its cold rolling capacity, responding to growing demand from sectors such as automotive, appliances, and food processing, said Managing Director Abhyuday Jindal in a statement to shareholders on August 17. The investment will raise the company's cold rolling capacity from 2.05 million metric tons per year to 2.67 million metric tons per year, with the expansion expected to be completed by fiscal year 2027-28.

[Indonesia] Indonesian billet prices rose by 7 USD/metric ton to around 465 USD/metric ton FOB for November shipments. This is due to fundamental support, as demand is currently on the rise. Demand is increasing because buyers are facing a shortage of the product, so they need to purchase it immediately. Thus, after showing a gradual price increase last week, now with improvements in the fundamentals, prices have risen more than expected, and it appears that demand will continue to rise steadily.