Partial Transactions Concluded in the Auction of Molybdenum Concentrates by a Mine in Luoyang on April 23

Data released by Eurostat in April indicated that, according to Eurostat's preliminary estimates, seasonally adjusted construction output in the Eurozone decreased by 0.2% in February 2026 compared to January 2026, while output in the wider EU increased by 0.1%. In January 2026, construction output declined by 1.3% in the Eurozone and by 2.1% in the EU. Year-on-year, Eurozone construction output fell by 1.9% in February 2026 compared to February 2025, and EU output declined by 2.0%.

The South Korean government officially launched an 80 trillion won ($58 billion) financial support package on April 22, 2026, aimed at modernizing the domestic steel industry and securing raw material supply chains. The package includes low-interest loans and subsidies for steelmakers transitioning to Electric Arc Furnaces (EAF) and hydrogen-based reduction technologies. This policy move is designed to enhance the competitiveness of South Korean steel exports in a global market increasingly defined by carbon border taxes and green manufacturing requirements.

Steel mills in Italy and Germany have signaled intended price increases of €50 to €70 per metric ton for long products effective late April 2026. The move is driven by rising energy and transport costs resulting from geopolitical tensions in the Middle East, alongside the implementation of Carbon Border Adjustment Mechanism (CBAM) costs. Producers indicated that stronger price leadership is necessary to maintain margins, even at the risk of losing some orders to existing imported stockpiles