[ArcelorMittal Evaluates $960 Million Expansion at Pecém Steel Plant in Brazil]

The European Commission granted regulatory approval for Swiss steel trading group Trasteel to acquire the Magona steel plant in Piombino, Italy. Magona operates downstream pickling, cold-rolling, and galvanizing lines with a combined processing capacity of approximately 600,000 tonnes per year, catering to the Southern European construction and appliance industries. The acquisition verticalizes Trasteel's distribution network into manufacturing. The move enhances local regional processing resilience ahead of tightening EU Carbon Border Adjustment Mechanism (CBAM) regulations. [SMM Iron Ore]

The Italian government approved €100.5 million ($112 million) in additional emergency financial support for Acciaierie d'Italia to sustain operations and raw material procurement at its Taranto steelworks. The Taranto integrated facility represents one of Europe's largest steel plants, with a nominal design capacity of 8.0 million tonnes of crude steel per year, though current operating rates remain restricted under 3.0 million tonnes. The state funding is intended to guarantee ongoing blast furnace maintenance and environmental compliance, preventing severe supply disruptions in the Mediterranean flat steel sector. [SMM Iron Ore]

Japanese steelmaker Nippon Steel announced a price increase of $32 per tonne (approx. ¥5,000/tonne) across its flat steel product lineup starting from October 2026 contracts. The company attributed the upward price adjustment to persistent cost pressures from raw materials—notably coking coal—alongside elevated global ocean freight rates and domestic logistics expenses. Nippon Steel, with a total annual crude steel capacity exceeding 40 million tonnes, sets benchmark pricing in East Asia. The price hike is expected to provide support for Asian hot-rolled coil spot markets. [SMM Iron Ore]