Data: SHFE, DCE market movement (Sep 29)

POSCO officially broke ground on its KRW 480 billion ($360 million) No. 8 continuous galvanizing line (8CGL) at its Gwangyang Works in South Korea. Dedicated to processing high-value automotive steel sheets, the new line is strategically designed to expand POSCO's output of advanced high-strength galvanized steel for global automakers undergoing light-weighting and electric vehicle transitions. [SMM Iron Ore]

Pakistan's Pak Steel is considering an investment project to produce rebar and other steel products in Uzbekistan, with prospects for the joint venture discussed between Uzbekistan's Ambassador to Islamabad, Alisher Tukhtaev, and Pak Steel Director Hassan Farid. According to Farid, high electricity costs in Pakistan are weighing on production costs and competitiveness, prompting the company to consider Uzbekistan, where energy resources are more accessible, as a potential site for new production facilities. Other factors under consideration include available industrial zone infrastructure and investor incentives, with Pak Steel also expressing interest in participating in housing, hotel, dam, and transport infrastructure projects in the country.

Japan's JFE Steel expects its output to fall by about 600,000 tonnes after heavy rain in August and further flooding from Typhoon No. 25 in September damaged facilities at its East Japan Works in the Chiba area. The impact is expected to be prolonged, as the typhoon caused additional damage while the company was still working to return its blast furnace to normal operations following the earlier August flooding. Products affected by the production cut include flat-rolled steel, stainless steel, and iron powder made at the Chiba site, with certain deliveries already delayed. JFE said the estimate may change as restoration progresses and it continues assessing the impact on output and earnings. No injuries were reported. The Chiba plant produced 3.59 million tonnes of crude steel in fiscal 2025, against JFE Steel's total output of 21.37 million tonnes for the year