[ ArcelorMittal Suspends Kryvyi Rih Operations Removing 4.9 Million Tonnes Historical Steel Supply ]

According to the World Steel Association, global crude steel production across 70 countries decreased by 1.2% year-on-year to 144.2 million tonnes in August 2026. Production in the European Union (27) decreased by 1.0% to 8.9 million tonnes, while output in the Middle East declined by 4.6% to 3.7 million tonnes. Conversely, North American production provided a structural bright spot, increasing by 3.9% to 9.4 million tonnes.

Mexico's Ministry of Economy has announced the final results of its sunset review on anti-dumping duties on hot rolled steel imports originating from Russia and Ukraine, deciding to extend the measures for another five years after concluding that their removal would likely lead to a recurrence of dumping and injury to the domestic industry. The duties remain at 21% for Russia and 25% for Ukraine, applying for five years from March 29, 2025. The measure covers unalloyed and alloyed hot rolled steel with a boron content of 0.0008% or higher, at least 600 mm wide and under 4.75 mm thick. The review was requested by Ternium Mexico and ArcelorMittal Mexico.

Price changes have occurred since last week: steel wire (510→505 USD/metric tonne), slabs (490→483 USD/metric tonne), HRC (528→515 USD/metric tonne), and billets (478→478 USD/metric tonne). Steel mills have responded even more aggressive, but demand appears to remain sluggish yet. This week, steel mills are attempting to lower prices and are prepared to cut them once again as they seek markets beyond China, given that the public holidays in China mean there are no orders at all. This week may reveal whether buyers will drive demand or not. Steel mills have been trying to adapt to buyers’ preferences, and it will be worth watching how buyers react – a key topic to watch this week.