Data: SHFE, DCE market movement (Sep 23)

Google has entered an agreement with Swedish green steel producer Stegra to purchase environmental attribute certificates (EACs) linked to steel production at Stegra's facility in Boden, Sweden. The deal initially covers up to 91,000 tonnes of steel production in the first year, with volumes expected to rise over time, operating under a "book and claim" model where environmental attributes are traded separately from the physical steel. Google will use the certificates to help offset steel-related emissions from its operations, including data center construction, while the agreement provides Stegra with financial support during its ramp-up phase. Stegra's Boden plant uses green hydrogen instead of coal to cut steelmaking emissions by up to 95% compared to conventional blast furnace production.

South Korea has proposed extending anti-dumping (AD) duties on Chinese H-beams for another five years, following a review by the Korea Trade Commission (KTC). Under the plan, price commitments would require Laiwu Steel and Rizhao Steel to maintain minimum import prices for the next five years, while for remaining suppliers, the commission recommended extending existing AD duties ranging from 28.23% to 32.72%. Officials concluded that terminating these protective measures would cause material injury to the domestic manufacturing sector, paving the way for continued tariffs on H-shaped steel imported from China for use in construction and factory columns.

[Indonesia] Currently, slab prices are estimated at around 490 USD/metric ton FOB. Just like other products, shipments of this product are currently scheduled for January; some sources attribute this to tight supply caused by the El Niño phenomenon. This situation, particularly for slabs, has arisen this week due to virtually nonexistent or very minimal demand. These conditions may continue into next week; however, as oil and gas prices rise, transportation costs may become a factor to watch in the future.