Data: SHFE, DCE market movement (Aug 12)

[European Union] EU HRC prices strengthened slightly, with Italian HRC at around USD 845/tonne ex-works and Northwest European HRC at about USD 842/tonne ex-works. Deals concluded last week in Northwest Europe were equivalent to roughly USD 843–861/tonne delivered, while buyers may need to pay around USD 867–879/tonne delivered for additional material. Mills are expected to seek further increases from late August into September, although underlying demand and processors’ ability to pass on higher costs remain uncertain.

New Zealand Steel has produced its first green steel on the new electric arc furnace (EAF) at its Glenbrook steelworks, just over two years after breaking ground on the project. The new EAF replaces Glenbrook's oxygen steelmaking furnace and two of its four coal-fired kilns, and is expected to cut the facility's greenhouse gas emissions by more than 45%. CEO Robin Davies noted the transition was carried out within a fully operational plant, maintaining uninterrupted output of the site's usual 650,000 mt/year. Sister company Pacific Steel will bring the green steel to market later this year under the PACIFIC™ and PACIFIC DCRB® brand names.

Canada has launched a CAD 100 million Commodities Sectoral Support Program to boost interprovincial movement of domestic steel. Starting August 10, 2026, the program reimburses 50% of eligible rail or marine transport costs for Canadian-origin steel shipped between provinces and territories — covering interprovincial carload rail shipments and non-containerized marine cargo. Shippers bearing the freight costs can apply for reimbursement. The program runs up to one year, or until funds are exhausted (expected by summer 2027). Announced by Transport Minister Steven MacKinnon, the measure aims to strengthen interprovincial trade and build more resilient domestic supply chains.