[India Tightens Domestic-Origin Rules for Steel Used in Government Procurement]

Cleveland-Cliffs announced it will match a $500 million grant from the U.S. Department of Energy, raising total investment in its Middletown Works facility in Ohio to $1 billion. The expanded project retains the original plan to replace the existing blast furnace with a hydrogen-ready direct reduced iron (DRI) plant and two electric melting furnaces, while adding a new cogeneration facility to capture blast furnace gas and convert it into electricity and steam for on-site use. The rebuild is expected to create over 1,500 jobs, including local union building trades, with completion targeted for Q1 2030. Middletown Works currently produces about 3 million tons of raw steel annually, focused on automotive-grade steel for exposed body panels.

Tata Steel's Llanwern galvanizing plant in south Wales is running at roughly half capacity, with production lines going idle for parts of the day as orders fall short, driven by a surge of cheap steel from Asia. New 50% UK import tariffs introduced in July were meant to protect domestic producers, but expanded tariff-free quotas have blunted the effect for galvanized steel: India's allowance rose from 98,000 to 125,000 tonnes, Vietnam's more than tripled to 174,000 tonnes, and South Korea received a new 100,000-tonne quota. Llanwern produces about 600,000 tonnes of galvanized steel annually, nearly half of UK demand, and Tata says the situation "isn't sustainable," warning it could also affect its £1.25bn electric arc furnace transition at Port Talbot. The UK government says it will review the quota system after 12 months.

[Turkey] As the summer holidays draw to a close and Black Sea geopolitical risks escalate, Turkish mills are demonstrating strong price-raising intentions, driving domestic hot-rolled coil (HRC) prices up by 5 USD/tonne to 585 USD/tonne EXW. With two mainstream mills scheduling maintenance in September, market quotes have fully shifted to October production schedules. Export quotes also rose by 10 USD/tonne to 580 USD/tonne FOB. On the import front, HRC import quotes were adjusted upward by 10 USD/tonne to 540 USD/tonne CFR, with Chinese materials edging up to 545–550 USD/tonne CFR. In addition, Black Sea coil prices continued to move rangebound, as ongoing conflicts persistently disrupted both logistics and trading activity.