[Primetals' Arvedi ESP Line in China Hits Four Productivity Milestones in Under Four Months]

[Vietnam] A deal for Vietnamese-origin HDG into Europe was reported at around USD 890/tonne CFR, at the higher end of the market, while lower-priced sources were heard at approximately USD 860/tonne CFR. Some Asian mills continued to prioritize sales to South America, where they could achieve better prices and larger volumes, leaving competition in the European import market relatively strong.

Tenova, in partnership with GE Vernova, has been selected by Nippon Steel to supply a record-breaking Consteel electric arc furnace (EAF) for the Yawata Area at Kyushu Works in Japan. Once installed, the furnace will become the world's most powerful EAF with a heat size of 340 metric tons, an unprecedented power level that will allow the use of high percentages of virgin iron units for producing high-quality steel grades. GE Vernova will supply its Direct Feed power system to provide the high-stability power needed for the installation. The project supports Nippon Steel's transition from blast furnace to EAF steelmaking as part of its goal to achieve carbon neutrality by 2050, in line with Japan's Green Transformation (GX) Promotion Act.

[Indonesia] Over the weekend, demand remained at 490 USD/metric ton. There was no movement at all because the Chinese market is still on holiday, compounded by continued sluggish local demand. Currently, since Vietnam’s prices have been released, the market may see movement again next week as this will become a key focus in the future. If there turns out to be no demand at all in the market, there will be no further movement, or mills will attempt to lower prices again—as they tried to do last week—to remain competitive or attract market attention.