[SMM Steel] Pakistan extends AD duties on Chinese steel billets for another five years

[Brazil] Major-customer bankruptcy triggers spot liquidation; Brazilian HDG prices under pressure This week domestic hot-dip galvanized (HDG) steel prices in Brazil came under downward pressure. The decline was primarily driven by a key client of a major local mill filing for bankruptcy liquidation, creating receivables risks that prompted the steelmaker to liquidate inventory at discounted spot prices to accelerate cash recovery. However, backed by robust automotive demand, quotes from other mainstream mills held firm. Hot-rolled coil ex-works prices stabilized at 750-760USD/tonne EXW, as high interest rates and tight credit conditions continued to suppress downstream purchasing sentiment. In the slab market, mills prioritized internal consumption for September shipments, keeping export offers steady at 580-585 USD/tonne FOB.

Brazilian miner Vale reported a total production of 84.3 million metric tons for the April-June quarter of 2026, marking its largest second-quarter iron ore output since 2018. Looking ahead, the company forecasts its total iron ore output to increase by up to 3% in 2026, projecting a range between 335 million and 345 million metric tons, while maintaining a long-term strategic target of 360 million tons by 2030.