[SMM Shanghai HRC Inventory] Shanghai Inventory Rose WoW This Week

[China Iron Ore Brief: Iron Ore Concentrates Prices in West Liaoning May Continue to Fluctuate in the Doldrums] Iron ore concentrates prices in west Liaoning were relatively stable, with the ex-factory prices of 66-grade iron ore concentrates, wet basis and excluding tax, at 730-740 yuan/mt; affected by earlier safety inspections, some local mines and beneficiation plants had only just resumed normal production, and overall iron ore concentrates resources remained relatively tight, still providing some support for local ore prices. Demand side, steel mills mostly purchased as needed, and the overall desire to bargain down prices was relatively strong. The market heard today that negotiations may have been reached, iron ore futures fell rapidly, market confidence

【SMM Steel】MorGen Energy, a Trafigura unit, gave final approval for its 20MW green hydrogen project in Milford Haven, Wales. Construction starts 2026 at a former refinery. It will produce 2,000 t/y of low-carbon H₂ for industry and ports, backed by UK government support. The plant will cut CO₂ by >15,000 t/y and create skilled jobs, signaling confidence in scalable green tech.

【SMM Steel】A major HS2 contractor warned UK's steel import tariff doubling will worsen cost pressures for the strained construction sector. The government aims to protect domestic steelmakers. But the move is expected to drive up steel costs amid an energy shock that already lifted steel and concrete prices. Rising material costs threaten the £100bn HS2 project. Mace's chair called the tariffs ill-timed and counterproductive.