A Mine in Luoyang Tendered for Sale of Molybdenum Concentrates on the 23rd with Higher Floor Price

[SMM Steel] Steel Dynamics reported significantly improved Q1 2026 results, with net income reaching $403 million (vs. $217 million YoY) and sales at $5.2 billion. Steel shipments hit a record 3.6 million tons, supported by stronger demand and higher pricing. Despite cost pressures, margins remained solid, with EBITDA around $700 million. Order backlogs extended into Q3, reflecting improving market conditions, while the company also expanded its aluminum segment and raised its dividend.

[SMM Steel] Hoa Phat Group inaugurated a new steel pipe plant in Tay Ninh with an investment of over VND 2 trillion, adding 400,000 tpa and raising total pipe capacity to 1.2 million tpa. The 15-hectare facility produces black pipes, galvanized pipes, HDG pipes, coils, and large-diameter pipes meeting ASTM, BS EN, and JIS standards. Equipped with a 10 MW rooftop solar system covering over 50% of power demand, the plant supports both capacity expansion and green production goals, with plans to run at full utilization to meet domestic and export demand.

【SMM Steel】Egypt's Ezz Steel plans a $780m investment to establish a DRI plant in Algeria. The company submitted project details to AAPI, intending to utilize local iron ore and benefits like reduced taxes/energy costs. The project has a financing structure of $155m equity and $625m debt, targeting 2.5 Mt/y of sponge iron. By accessing Algeria's iron ore, Ezz Steel intends to expand the facility into an integrated industrial complex covering various stages of iron and steel production.