[SMM Steel]

European steelmakers have restarted approximately 10 million tonnes of crude steelmaking capacity in 2026, while investment decisions totalling at least EUR 3.4 billion have been made during the year, the European Steel Association (EUROFER) said on October 13. The association expects a further EUR 2.4 billion in investment decisions by year-end and estimates that the capacity restarts are helping preserve up to 80,000 jobs across the steel value chain. EUROFER linked the improving industry confidence to the EU's strengthened steel trade measures introduced on July 1. However, the association cautioned that the developments indicate early stabilisation rather than a sustained recovery, with EU steel demand projected to grow by only 0.1% in 2026. The 10 million-tonne figure represents restarted production capacity, not confirmed incremental steel output.

[Rebar] Today, rebar export quotations at Tianjin Port fell in tandem with the futures market, down by USD 1/ton, with overall transaction prices ranging from USD 475-480/ton. According to exporters, willingness of overseas end users to inquire was weak today, and the market was cautious in order-taking. Procurement enthusiasm from processing enterprises in some regions was subdued, with most adopting a wait-and-see stance.

[SMM Steel] Market feedback: Currently, the FOB price for B500B rebar with a specification of Φ18mm is quoted at USD 478/ton, with the loading port being Tianjin Port.