[Algoma Steel resolves power issues, prepares to start second EAF in Q4]

Rio Tinto has commissioned a pilot carbon capture unit at Shougang Group's Jingtang steel base in China, capturing CO2 directly from blast furnace gas. It can treat up to 3,000 cubic metres of blast furnace gas per hour, targeting up to 10,000 tonnes of CO2 a year in the trial phase. The start-up marks a milestone under a 2022 MoU to develop low-carbon technologies across ironmaking and steelmaking. Blast furnaces are primary steelmaking's biggest emissions source, so point-source capture is a transitional option while DRI and green hydrogen scale up. The trial will produce data on solvent performance, energy use and gas pre-treatment, helping assess commercial CCUS retrofits across China's steel sector. Miners facing Scope 3 pressure see direct trials with steelmakers as key to protecting long-term high-grade iron ore demand.

India's German Green Steel and Power listed on the BSE on Monday at 1.65 USD per share, a 3.2% premium to its 1.60 USD IPO price, but profit-taking drove it 8% below the offer price to a day low of 1.46 USD. The pre-listing grey market premium implied just a 6.8% gain. The mainboard IPO, open September 25-29, was subscribed 28.98 times, with retail at 22.83 times, non-institutional investors at 54.03 times and QIBs at 20.93 times. The 35 million USD issue, including a 33 million USD fresh sale, will fund the Samakhiyali plant expansion, a hybrid wind-solar plant and debt repayment. The integrated producer makes TMT bars, MS billets and sponge iron at two Gujarat plants; FY24-FY26 revenue rose from 130 million to 193 million USD, EBITDA from 9.1 million to 19.2 million USD, and net profit from 4.8 million to 9.2 million USD.

South Africa is moving to ban cash sales of scrap metal under amendments to the Second-Hand Goods Act, aiming to curb illicit trade and infrastructure vandalism that costs about 45 billion rand (2.5 billion USD) a year. Dealers must retain sellers' data and switch to electronic payments, logging each acquisition or disposal; recyclers must record waste pickers' names and ID numbers. Foreign nationals without verified permanent residency lose trading licences, and gold and chrome are also covered. Stolen cable on Transnet rail lines rose from 120km to 724km a year between 2017 and 2021, with incidents up from under 2,000 to nearly 4,500. Copper theft costs Eskom 5-7 billion rand (280-390 million USD) yearly, plus 2 billion rand (110 million USD) to replace cable. The cabinet approved the bill for public comment in August, with a November 2 deadline.