[SMM Steel] Low Inventories and Cost Support Drive Rebound in Turkish Rebar Prices

Finland-based stainless steel producer Outokumpu has inaugurated a new biocoke agglomeration plant in Tornio, representing an investment of approximately USD 34.7 million. The facility processes biochar into biocoke to replace fossil coke in ferrochrome production and could reduce CO2 emissions by up to 82,000 tonnes annually at full capacity. Biocoke production has already started for both internal use and external customers. The project supports Outokumpu’s target to reduce value-chain CO2 emissions by 42% by 2030 from 2016 levels.

In the Tangshan area of Hebei, prices of iron ore concentrates showed no significant short-term fluctuations; the local dry-basis tax-inclusive EXW price of grade-66 iron ore concentrates was 950-955 yuan/mt; local resources of iron ore concentrates remained relatively tight, providing some support for local iron ore prices; demand side, steel mills were currently mainly purchasing as needed, but iron ore futures recently showed a relatively strong trend

[Malaysia] Recent Malaysian rebar transactions show T12 at around MYR 2,330/tonne, while T16 and T20 were both traded at approximately MYR 2,230/tonne. Compared with around MYR 2,200/tonne last week, transaction levels for T16 and T20 have increased by about MYR 20–30/tonne, indicating a modest upward shift in the market, while T12 continues to command a clear premium over larger sizes.