[Iran Issues New Rules for Passage Through Strait of Hormuz]

In July 2026, China produced 76.93 million mt of crude steel, down 3.6% YoY, with daily output of 2.4816 million mt, down 11.0% MoM; produced 68.35 million mt of pig iron, down 4.5% YoY, with daily output of 2.2048 million mt, down 8.1% MoM; and produced 116.46 million mt of steel, down 4.1% YoY, with daily output of 3.7568 million mt, down 11.0% MoM. From January to July, cumulative crude steel production reached 577 million mt, down 3.1% YoY, with average daily output of 2.7219 million mt; cumulative pig iron production reached 496 million mt, down 3.0% YoY, with average daily output of 2.3385 million mt; and cumulative steel production reached 836 million mt, down 1.2% YoY, with average daily output of 3.9442 million mt. In July 2026, key statistical steel enterprises produced a total of 64.7837 million mt of crude steel, down 2.9% YoY, with daily output of 2.0898 million mt, down 8.1% MoM; produced 60.0525 million mt of pig iron, down 2.7% YoY, with daily output of 1.9372 million mt, down 6.5% MoM; and produced 65.7603 million mt of steel, down 4.8% YoY, with daily output of 2.1213 million mt, down 10.0% MoM. From January to July, key statistical steel enterprises had cumulative crude steel production of 473 million mt, down 3.4% YoY, with average daily crude steel output of 2.2316 million mt; cumulative pig iron production of 427 million mt, down 2.4% YoY, with average daily pig iron output of 2.014 million mt; and cumulative steel production of 474 million mt, down 3.9% YoY, with average daily steel output of 2.2355 million mt.

According to Algerian media reports, Algeria plans to build a new steel complex in Ain El Biya, Oran Province, as a key project to advance re-industrialization, improve resource utilization efficiency, and reduce import dependence. Economist Linda Benghiam stated that the project's significance lies not only in expanding steel capacity but also in building a complete industrial ecosystem and enhancing local value addition. Adjacent to industrial and energy bases such as Arzew and Bethioua, Ain El Biya has ports and related infrastructure, which is conducive to developing heavy industry and driving supporting industries including equipment maintenance, transportation, engineering design, and local suppliers. She noted that the project should form industrial synergy with the development of the Gara Djebilet iron ore mine, promoting the connection of iron ore mining, steel smelting, and downstream manufacturing to achieve value-added processing of local resources. If Algeria can further develop its local supply chain and industrial subcontracting system, it will help improve domestic manufacturing capacity and gradually expand into the African market.

The 14th member congress and the first council meeting of the 7th session of the China Iron and Steel Association (CISA) were held in Shijiazhuang on the 21st. Zhao Minge stated at the meeting that since the beginning of this year, facing the industry's operating characteristics of "strong supply but weak demand, export pullback, low steel prices, rising costs, and declining profitability," member enterprises have made efforts to self-regulate production, optimize product mix, and maintain export order, stabilizing the fundamentals of economic operations. According to CISA statistics, in H1, the cumulative revenue of key statistical enterprises was 3.05 trillion yuan, down 0.7% YoY; operating costs were 2.85 trillion yuan, down 0.6% YoY; total profit was 58.4 billion yuan, down 5.5% YoY; and the sales profit margin was 1.92%, down 0.09 percentage points YoY. Among them, the steel core business profit was 16.7 billion yuan, down 40% YoY, with a profit margin of 0.77%. At month-end June, the asset-liability ratio of key statistical enterprises was 61.13%, down 0.97 percentage points YoY. Zhao Minge said that the outline of the 15th Five-Year Plan proposes to consolidate and enhance the position and competitiveness of the steel industry in the global industrial division of labor. This year marks the start of the 15th Five-Year Plan period. The steel industry should strengthen confidence, strive for innovation and excellence, and continue to deepen steel capacity governance. It is expected to cooperate in production adjustment work, promote the implementation of differentiated production adjustment plans, and cooperate in implementing policies for optimizing steel capacity structure, as well as make dynamic adjustments for steel industry standard enterprises. Zhao Minge noted that the 15th Five-Year Plan provides strong support for the development of the steel industry. The planned construction of the "six networks" — water network, new-type power grid, computing network, new-generation communication network, urban underground pipeline network, and logistics network — is expected to involve an investment scale exceeding 23 trillion yuan, leading to a demand of 261 million mt of steel.