Europe's steel industry to restart 10 million tonnes of crude steelmaking capacity in 2026

Iron ore concentrate prices in the Tangshan region have been relatively stable recently, with 66% grade iron ore concentrates at an ex-works price of 885-890 yuan/mt on a dry basis including tax. Steel mills have lowered their procurement tender prices, and mines and beneficiation plants are mostly selling at prevailing market prices. Recently, domestic concentrate prices have declined noticeably, with overall cost-effectiveness improving compared to the earlier period.

The Trade Commission under Korea's Ministry of Trade, Industry and Energy decided on the 8th to launch an anti-dumping investigation into Chinese seamless steel pipes, following a petition filed in August by domestic pipe maker Iljin Steel. The company cited Chinese suppliers' rising market share and deteriorating profitability at domestic producers. According to Iljin Steel, Chinese products steadily gained share from 2021 through 2025 even as Korean demand for seamless pipes declined, while the market share and shipment volumes of domestically produced pipes fell over the same period. The probe covers seamless steel pipes made of carbon steel and alloy steel, used in heat recovery steam generators (HRSG), boilers and heat exchangers, line pipes, and machinery and automotive parts. Stainless steel pipes and oil country tubular goods for crude oil and natural gas production, including casing, tubing and drill pipe, are excluded. The Trade Commission selected three Chinese seamless pipe makers as representative sampled suppliers to calculate dumping margins. The preliminary investigation runs three months from the start date, extendable by up to two months, before a full investigation and a final determination on dumping and injury to domestic industry. An Iljin Steel official said the case is not intended to restrict imports but to create a market environment for normal price competition and to maintain the domestic seamless pipe production base essential to Korea's core industries.

United States Steel Corporation (US Steel) is investing 28.3 million USD to upgrade the pickle line at its Great Lakes Works plant in Michigan. The project covers a fibre-optic laser beam welder, already delivered, and dual-entry shears to be installed during a 30-day production outage from October. The shears can serve two passlines as required by the line. The pickle line removes surface scale before further processing; the new equipment should raise efficiency and secure reliable output. Workers will receive 3D virtual training before installation plus on-the-job skills development. CEO David Burritt said the spending supports the long-term future of steelmaking in Michigan, while Scott Buckiso, chief manufacturing officer for North American flat-rolled, said it strengthens the facilities. Its flat-rolled products serve automotive, construction and energy sectors.