Data: SHFE, DCE market movement (Jun 08)

【SMM Steel】JSW Steel MD and CEO Jayant Acharya stated at the Citi India Conference on June 4 that the company expects to invest 20 billion USD over the next seven years or approximately 3 billion USD annually. The investment responds to India's needs in infrastructure urbanisation manufacturing growth and domestic consumption. Acharya noted India's per capita steel consumption has now exceeded 115 kg. Over the past five years the ratio of steel demand growth to GDP growth has increased to about 1.5 times from below 1 previously. He added that JSW Steel's expansion strategy urgently requires local supply capabilities for specialty steels including electrical steel packaging steel and advanced high-tensile steel for auto manufacturing and energy transition.

【SMM Steel】The South Australian government announced in its 2026-27 budget on June 4 that it will provide an additional 319 million AUD (228 million USD) over the next two years to support the sale and subsequent operation of the Whyalla Steelworks . Since being placed into administration in February 2025, the plant has received over 2.88 billion AUD (2.06 billion USD) in state and federal funding . The government has also allocated 6.5 million AUD (46.6 million USD) over two years to support the steelworks' transition to low-carbon steelmaking, backed by a gas agreement with Santos . Recently, Australian company M Resources and India's Jindal Steel were shortlisted as qualified bidders for the acquisition .

【SMM Steel】A Mexican bankruptcy court has approved the joint sale of steelmaker AHMSA and its mining subsidiary Minosa for a total value of 1.33 billion USD following a revised proposal after an earlier auction failed to attract buyers. The approved plan requires both companies to continue operating as a single unit rather than selling assets separately. AHMSA's steel assets are valued at 1.201 billion USD with Minosa's mining operations at 125 million USD. Several secured creditors including Cargill Afirme Unifin Caterpillar Pemex and Tubacero may use outstanding debt claims as part of their acquisition offers.