【Potential BHP Port Strike Could Indirectly Weigh on Metallurgical Coal Demand】

European hot-rolled coil supply is set to tighten as revised EU import quotas and CBAM-related costs reduce the availability of imported material, while improving mill order books encourage domestic producers to restart idled capacity, ArcelorMittal said in its second-quarter 2026 results.

[Aug 1 Shagang Industrial Wire Rod Price Adjustment] On August 1, 2026, Shagang released its pricing policy for early August. This adjustment is based on the "Shagang Premium Wire Rod Product Price Adjustment on August 1". The premium wire rod prices remained unchanged: currently 45# is 3,710 yuan/mt, 82B is 4,010 yuan/mt, 35K is 3,730 yuan/mt, and PC steel Φ8-12 is quoted at 3,700 yuan/mt. [SMM Steel]

ArcelorMittal, the world's second-largest steelmaker, reported second-quarter core EBITDA of US$2.06 billion, beating the market consensus of US$2.01 billion by approximately US$50 million (+2.5%). The company expects European steel shipments to remain stable or edge higher in the third quarter, defying the usual seasonal slowdown. Supported by tighter EU import measures and rising steel prices, ArcelorMittal has restarted three blast furnaces and said it has further production flexibility if demand continues to improve. European crude steel production also increased by around 11% from the first quarter. Firmer steel prices and blast furnace restarts indicate continued improvement in European steelmaking activity, providing near-term support for seaborne metallurgical coal and coke demand. While the current recovery is not yet sufficient to shift the global supply-demand balance, further production restarts across Europe could strengthen support for international metallurgical coal prices.