【SMM Steel】Fives secures contract with Hyundai Steel, POSCO for US low-carbon steel plant

Social inventory of HRC was 3.4389 million mt this week, down 41,400 mt from the previous week, -1.19% WoW, +34.23% YoY, and +21.54% YoY on a lunar calendar basis. Mill inventory of HRC was 1.1205 million mt this week, down 41,800 mt from the previous week, -3.60% WoW, +0.83% YoY, and -0.71% YoY on a lunar calendar basis. Total HRC inventory was 4.5594 million mt this week, down 83,300 mt from the previous week, -1.79% WoW, +24.12% YoY, and +15.20% YoY on a lunar calendar basis.

[SMM Steel] MMK Metalurji, a subsidiary of Magnitogorsk Iron and Steel Works, has suspended production at facilities in Kocaeli and Iskenderun following worker strikes over delayed wage payments. Employees halted operations after agreed salary increases were not reflected in payrolls. Negotiations are ongoing, with the disruption potentially impacting Turkey’s flat steel supply.