BHP said blast furnace decarbonisation remains crucial as over 70% of global steel output still uses the BF-BOF route. The company noted that EAF and DRI expansion faces scrap supply and iron ore quality constraints, while BF emissions can be reduced through recycling, hydrogen injection, CCUS and higher-grade raw materials. With new integrated steel plants costing around 4 billion USD and 85% of China and India’s BF capacity less than 20 years old, full replacement remains difficult in the near term.

Pomina Steel's shareholders approved a revival plan targeting VND 8.51 trillion in revenue for 2026 and VND 13.19 trillion for 2027, representing roughly fourfold and sixfold annual increases. This is backed by a projected construction steel output of 643,750 tonnes in 2026 and 997,500 tonnes in 2027. Forecasting EBITDA at VND 474 billion in 2026 and VND 941 billion in 2027, the recovery is driven by a two-year cooperation agreement with Vinhomes, securing working capital for the Pomina 3 plant. Pomina commenced shipments to Vingroup projects like VinFast and VinMetal, while creditors waived interest payments to aid financial stabilization.

Turkey's crude steel production grew by 6.8% year-on-year to 16.48 million metric tons (mt) in the first five months of 2026, driven largely by a 19.8% surge in slab production to 6.71 million mt. Despite the output growth, total steel exports fell by 2.9% to 6.13 million mt. Under the EU's new quota regime, Turkey received a specific quota of 2.86 million mt (15.6% of the total) and expects to export over 3.0 million mt to the bloc when including free trade agreement (FTA) volumes. With capacity utilization sitting at a low 63.9% out of its 61.9 million mt total capacity, the Turkish industry urgently needs domestic sourcing mandates and stricter import controls to maintain competitiveness against Far Eastern material.

According to SMM statistics, both mill inventory and social inventory experienced varying degrees of buildup. Total construction steel inventory reached 8.2329 million mt, up 213,600 mt WoW (up 2.66% WoW), further intensifying inventory pressure.

[India] India’s Alang HMS 80:20 ship-breaking scrap held at around 394 USD/tonne EXW amid cautious buying and sufficient supply. Bhavnagar billet fell to about 478 USD/tonne DAP, while rebar stayed near 531 USD/tonne EXW. In Mandi Gobindgarh, billet declined to around 496 USD/tonne DAP, rebar eased to about 551 USD/tonne EXW, and HMS scrap held near 408 USD/tonne DAP. Possible Punjab power cuts may limit steel output and support sentiment, but demand remains need-based.

Japan's industrial production increased by 0.5% month-on-month in May 2026, although it registered a 1.7% decrease compared to May 2025. The seasonally adjusted iron and steel production index grew by 1.1% from April, reflecting a 0.4% year-on-year increase, while steel shipments rose by 2% and inventories fell by 0.2% month-on-month. Looking ahead, overall industrial production is forecast to grow by 3.7% in June and remain stable in July, whereas iron and steel production is expected to slightly contract by 0.6% in June and 1.6% in July. The contrast between broader industrial growth and the anticipated near-term contraction in steel output suggests steelmakers are actively managing supply to prevent inventory build-ups during the summer months.