Iron Ore inventories in China Port extend drawdown, with fines destocking standing out [SMM Inventory]

According to Metals Consulting International (MCI), Ukraine's flat steel imports surged by 50% year-on-year in July 2026 to reach 140,624 metric tons, accounting for over 70% of the country's total steel imports for the month. Within this category, metallic coated sheet imports jumped 87% to 48,731 tons. Overall, Ukraine imported 1.14 million tonnes of steel during the January-July 2026 period, representing a 7.1% cumulative increase driven heavily by long products and semi-finished materials.

The Brazilian Steel Institute (IABR) reported that national crude steel production stood at 2.804 million metric tons in July 2026, remaining almost entirely flat compared to the 2.803 million metric tons produced in July 2025. During the month, flat steel product output increased by 7.8% to 1.243 million metric tons, while long product production declined by 3.1% to 809,000 metric tons. Despite the steady production, apparent domestic steel consumption dropped by 4.7% to 2.226 million metric tons.

Metinvest's Italian subsidiary, Ferriera Valsider, officially declared force majeure in mid-August 2026 after an unforeseeable breakdown forced the complete shutdown of its hot-rolled coil and heavy plate production lines. The company suspended all contractual performance terms, citing an inability to immediately determine the duration of the significant disruption. Technical teams are currently assessing the damaged equipment to establish a reliable repair timeline and restore normal operations.