A Molybdenum Concentrates Auction at a Henan Mine Closed at 4,655 Yuan/Mtu

【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.

【SMM Steel】South Korea's FSC unveiled an 80tr won ($54bn) support package to protect industries from complications from the Middle East conflict. The government will combine policy and private finance to support affected companies, including steel, machinery, and electronics. The package includes 25.6tr won from state lenders and >53tr won from private sectors. A new 1tr won Corporate Restructuring Innovation Fund will support six key industries, including semiconductors and automobiles. Authorities may expand the program based on future needs.

【SMM Steel】U.S. Steel plans to restart its Gary Tin Mill in early 2027 to increase domestic tin mill goods supply. The $15-20m project aims to secure reliable US-made supplies for food/beverage packaging, aerosol products, and oil filtration. The restart requires maintenance, procurement, and workforce prep. It will provide 225 jobs at Gary Works. Leadership links the decision to the need for reliable domestic options under fair market conditions. The expansion aligns with annual tin mill product contracting cycles.