[Profit Situation of National Industrial Enterprises above Designated Size from January to June]

Hydrogen-based direct-reduced iron project developer GravitHy has filed building permit and environmental authorization applications for its planned low-carbon iron project at Fos-sur-Mer, France. The strategic green steel project targets an annual production of 2 million metric tons of hot briquetted iron (HBI) designed for electric arc furnace (EAF) consumption, which offers European steelmakers a lower-carbon feedstock alternative to coal-based blast furnaces. Operating at full capacity, the plant aims to cut carbon emissions by about 90% compared to conventional processes, avoiding up to 4 million metric tons of CO2 emissions annually.

Indian state-run steelmaker Steel Authority of India Limited (SAIL) has formally approved a $3.22 billion expansion project for its Bhilai Steel Plant to enhance crude steel production capacity from 6.8 million tonnes per annum to 10.2 million tonnes. The Engineering, Procurement and Construction Management (EPCM) agreement, signed with MECON, aims to complete the project within 42 months to support India's National Steel Policy target of reaching 300 million tonnes of domestic capacity by 2030. All major raw materials required for the expanded operations will be sourced from SAIL's captive mines alongside domestic and import markets.

In June, production of medium-thickness plate rolling mills and cold tandem rolling mills of key statistical enterprises rose YoY, while production of hot tandem rolling mills fell YoY. Production of main varieties of plates rose or fell YoY. Among them, output of shipbuilding plates and steel plates for construction machinery increased significantly, while output of pipeline plates and wind power steel plates decreased significantly. Except for cold-rolled thin sheet and strip, whose price fell MoM, prices of other products all rose.