[Hoa Sen Launches New High-Corrosion-Resistance Alloy-Coated Steel]

SMC Trading Investment JSC (SMC) plans to issue shares to swap up to VND272 billion of debt and bonds, aiming to reduce cash repayment pressure, lower interest and financing costs, and strengthen its equity base. The move comes as SMC’s H1 2026 steel consumption fell 43% year on year to nearly 144,000 tonnes and net revenue dropped 37.3% to VND2.38 trillion, although the company returned to a net profit of nearly VND42 billion from a loss of VND81 billion a year earlier. The debt restructuring, together with asset disposals and debt recovery, is expected to improve SMC’s financial position and allow the company to refocus on its core steel trading and distribution business.

Domestic iron ore concentrates prices in China showed mixed performance this week. By region, prices edged down by 1-5 yuan/mt in Tangshan, Qian'an, and Qianxi in Hebei; were basically stable in Chaoyang, Beipiao, and Jianping in western Liaoning; and rose by 5-10 yuan/mt in east China. Looking ahead to next week, the cost-performance of domestically produced iron ore is expected to remain at a disadvantage, and the price spread between domestic and imported ore is expected to continue narrowing under steel mill regulation. On the supply side, the willingness to hold prices firm eased somewhat.

Libya has ordered a major state-owned steelmaker in Misrata to suspend production as the country faces worsening electricity shortages. The producer will halt its production lines and connect its captive power plant to the national grid to ease pressure during a period of high electricity demand. No timetable has been announced for restarting steel production. The company has an annual liquid steel design capacity of about 1.7 million tonnes and produces long and flat steel products, semis and hot briquetted iron.