[SMM Steel] Canada launches AD/CVD probe into Chinese steel rack imports

SMM News Flash: [U.S.] Nucor has raised its hot-rolled coil (HRC) offer by 10 USD/tonne to 1,065 USD/tonne, while California Steel Industries (CSI) is offering at 1,115 USD/tonne. This round of increases is driven by tight spot supply, as maintenance outages and delivery delays have limited availability. Lead times remain at 3–5 weeks, but buyers are finding it increasingly difficult to secure material and are relying more on limited spot resources, which continues to support stronger prices.

Today, the DCE iron ore futures were in the doldrums today, declining in the morning session before rebounding in the afternoon. The most-traded I2609 contract ultimately closed at 780.5 yuan/mt, down 0.89% from the previous trading session. Spot prices fell 2-5 from the previous day.

Metinvest Group’s Kametstal steelworks has launched a comprehensive overhaul of its Blast Furnace No. 9, with a total investment estimated at 162 million UAH. The project is scheduled to last 55 days and involves replacing the furnace lining, cooling systems, and upgrading environmental control equipment. While the maintenance will temporarily reduce Kametstal's pig iron production capacity, the upgrade is expected to enhance long-term operational efficiency and reliability. This planned shutdown may slightly tighten the regional supply of semi-finished steel products in the Ukrainian market during the second quarter.