[EU Approves Trasteel's Acquisition of Italy's Magona Galvanizing Plant]

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]

ArcelorMittal is considering a $960 million capital investment to expand its Pecém steelworks in Ceará, Brazil. The Pecém integrated facility currently operates with a design capacity of 3.0 million tonnes of crude steel slabs per year, supplying international markets via its dedicated deep-water port. The proposed expansion focuses on adding downstream rolling and processing infrastructure to capture higher value-added flat steel segments. If finalized, the project will increase regional iron ore consumption and boost South America's slab export capacity. [SMM Iron Ore]