Data: SHFE, DCE market movement (May 12)

[SMM Daily HRC Trading] On May 12, the combined daily HRC trading volume of SMM's sample enterprises across four cities (Shanghai, Lecong, Tianjin, Ningbo) totaled 14,230 mt, down 1,100 mt DoD (-7.2%), down 12.16% YoY (solar calendar), and up 22.99% YoY (lunar calendar).

[SMM Steel] Romania-based Liberty Galati lowered the minimum price for its asset sale to €444 million in an effort to attract new investors after previous attempts failed to receive firm offers. The company continues to face financial pressure, delayed operational restart progress, and weak European steel demand. Recent reports regarding concerns over financing allocation have also increased uncertainty surrounding the company’s restructuring and recovery plans.

[SMM Steel] Tata Steel Nederland joined the European CiSMA project focused on developing low-carbon steel made entirely from recycled scrap using electric arc furnace (EAF) technology. The initiative targets a 70% reduction in carbon emissions in sheet steel production through 100% recycled scrap and circular manufacturing methods. The €4.5 million EU-funded project includes partners such as Volvo Cars, Electrolux Professional, and voestalpine, aiming to expand recycled steel applications in automotive and appliance industries.