【Flash | US July Molybdenum Shipments Outpace Production as Output Rises YoY】

Nucor reported record quarterly steel shipments and firm pricing, supported by data centres, power and manufacturing demand, though its latest guidance came in below Wall Street expectations. North America's largest steel producer and recycler runs electric arc furnace mills using scrap, a lower-emission route. Its new Apple Grove sheet mill in West Virginia is nearing completion, with commercial shipments expected early next year; it will supply flat-rolled steel to automotive, appliance and construction customers. Tariffs shield US mills, but downstream costs and policy shifts remain risks. Orders for rebar, joists and decking are steady, with nonresidential construction and energy projects driving demand. Scrap and power costs, high borrowing costs and imports are watch points.

India's steel secretary Sandeep Poundrik said the new policy targets 600 million tonnes of steelmaking capacity by 2047 and will be published soon. A draft seen by Reuters puts capacity at 220 million tonnes in fiscal 2026 and targets emission intensity of 1.54 tonnes of CO2 per tonne of crude steel by 2047, from 2.54 tonnes now. Iron ore demand is seen at 772 million tonnes, with high-grade reserves sought overseas, while coking coal demand reaches 214 million tonnes via diversified sourcing. Poundrik flagged raw material supply and exports as key challenges amid rising trade barriers. India was a net importer of 3.5 million tonnes of finished steel in April-August, up 29.5% y-o-y, with China supplying 31.8%. Prices are set to rise as post-monsoon infrastructure and auto demand recover.

South Korean steel stocks rallied early on the 1st. Daehan Steel rose 17.07% to 9,120 won, Dongkuk Steel Mill gained 13.33% to 10,710 won, KISWIRE added 10.03%, KISCO 8.92%, KG Dongbu Steel 6.06%, SeAH Steel 3.52% and Hyundai Steel 2.50%. The gains followed US President Donald Trump's formalisation of Korea's participation in the Alaska LNG development project. Trump said the deal is one of the largest US energy infrastructure investments, with the Korean government planning to invest up to 200 billion USD. The plan covers 6 GW of power facilities, eight new large-scale nuclear plants and an Alaska LNG pipeline. Pipelines, nuclear plants and power infrastructure require large volumes of steel pipe and structural steel, so investors expect a substantial order boost for Korean steelmakers.