Iron Ore Prices in East China to Fall Next Week

India’s Shyam Metalics and Energy has signed an agreement with the Maharashtra government to invest INR 500 billion (USD 5.19 billion) to build a 9 million tonnes per year greenfield steel complex in Chandrapur. The project is expected to create around 30,000 jobs and is planned to start operations in the current financial year, subject to approvals, clearances and incentives. The investment is part of the company’s expansion beyond eastern India with planned investments also in Odisha, West Bengal and Jharkhand.

Bharat Coking Coal (BCCL) produced 2.57 million tonnes of raw coal in September 2026, up 20.7% from 2.13 million tonnes in September 2025. Raw coal offtake grew 13.7% YoY to 3.15 million tonnes. Coking coal production rose 21.5% to 2.49 million tonnes from 2.05 million tonnes. Opencast mines drove the growth with output up 24.4% at 2.55 million tonnes, while underground mines saw a sharp fall of 76.6% to 0.02 million tonnes.

The European Steel Association (EUROFER) reported on October 1, 2026, that EU steel exports to third countries plummeted by 20% year-on-year in the first half of 2026. Shipments of finished steel products dropped 18%, driven by a 19% decline in flat products and a 15% fall in long products, while total EU crude steel production remains suppressed near its historic low of 125.8 million tonnes. The association warned that high regional energy costs continue to severely degrade Europe's global export competitiveness against lower-cost Asian mills. [SMM Iron Ore]