Data: SHFE, DCE market movement (May 12)

[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.

[SMM Steel] Hyundai Steel and POSCO’s US joint venture awarded SMS Group a contract to supply rolling mill equipment for its new greenfield steel plant in Louisiana. The project includes a hot strip mill, pickling line tandem cold mill, acid regeneration plant, and AMOVA logistics systems. The plant is scheduled to start operations in 2029 with total steel product capacity of 2.8 million mt. The facility will focus on high-grade automotive steel, with annual cold rolled coil output expected to reach nearly 2 million mt.