【SMM Steel】British Steel moves toward full nationalization

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 02 Apr , 2026

Australia and the European Union officially signed a new trade agreement on March 24, 2026, focused on securing supply chains for critical minerals and high-grade iron ore. This deal follows eight years of negotiations and is intended to diversify the EU's raw material sourcing away from China. The agreement provides European steelmakers with preferential access to Australian magnetite and high-purity hematite, while fostering joint investment in processing facilities that meet strict environmental and social governance standards required for the upcoming EU "green steel" mandates.

On 26 March 2026, the Democratic Republic of the Congo and China signed a Memorandum of Understanding that designates the Grande Orientale Iron Ore Project (MIFOR) as a flagship venture receiving priority support from Chinese stakeholders. It is estimated that this mining concession holds cumulative resources of between 15 billion and 20 billion tonnes, boasting an average iron grade exceeding 60 per cent. The first phase of the development is projected to require a capital expenditure of 28.9 billion US dollars. Initial production is targeted at 50 million tonnes per annum, with a long-term strategic objective to expand operational capacity to 300 million tonnes per annum.