According to SMM statistics, mill inventory and social inventory continued to diverge this period. Steel mill production declined, and mill inventory still saw a slight destocking, while social inventory continued to build up, though the pace of inventory buildup slowed. Total construction steel inventory stood at 8.4788 million mt, up 0.06% MoM, an increase of 5,400 mt.

Hydnum Steel has secured a €150m investment commitment from COFIDES via the Co-investment Fund for the Iberian Peninsula's first clean steel facility in Puertollano. This funding is part of a €1.5bn+ financial strategy consisting of ~€600m in equity and ~€1bn in debt. The plant will use EAFs powered by green hydrogen and 100% renewable electricity, cutting CO₂ emissions by up to 98% versus conventional blast furnaces. Construction is scheduled to begin by end-2026, creating over 5,000 total jobs.

As of August 4, the operating rate of 50 EAF steel mills in China primarily producing construction steel stood at 33.58%, down 1.96% WoW; capacity utilization rate was 33.67%, down 1.64% WoW; and daily average production of construction steel was 75,000 mt, down 3,600 mt WoW.

Futures first rose and then fell today, closing at 2,983, down 0.2% from the previous trading day. On the spot side, most markets held offers steady in the morning; in the afternoon, as futures drifted lower, some markets edged down 10-20 yuan/mt, with overall trading sentiment weak. Fundamentals, supply side, both blast furnace and EAF steel mills mostly saw losses in per-mt steel margins. Recently, EAF mills have reduced working hours or halted production, and blast furnace mills have also cut output or conducted rolling line maintenance. According to SMM’s weekly maintenance survey, the impact from maintenance this period was 938,600 mt, up 174,200 mt WoW, and supply pressure on construction steel eased somewhat. Demand side, futures slightly recovered this morning, lifting market activity modestly and releasing downstream rigid procurement demand, though overall room for demand growth was limited. Overall, the market is in a macro vacuum period, construction steel fundamentals lack momentum, and short-term prices will likely continue to consolidate at lows.

During the survey period (July 28 - August 3), the rebar capacity utilization rate in Central China declined, while both the operating rate and capacity utilization rate of wire rod fell.

Today, futures consolidated on a subdued note, closing at 2,976, down 1.23% from the previous trading session. Spot side, in the morning, most market quotes fell, with prices declining 10-30 yuan/mt. In the afternoon, futures continued to consolidate on a weak note, with some markets following with a drop of 10-20 yuan/mt. Overall, transactions were mediocre to weak. Fundamentals, supply side, currently, most steel mills had comprehensive per-ton steel margins below the break-even line, and mills gradually arranged maintenance on blast furnaces and associated construction steel rolling lines or reduced production loads; EAF steel mills further reduced operating hours. Demand side, futures fell below the 3,000-point level, market confidence was notably weak, with many adopting a wait-and-see attitude, and trading sentiment was mediocre. Meanwhile, due to sustained high temperatures in many areas, the pace of outdoor housing construction was hindered, and end-user rigid procurement demand was weak. Overall, in the short term, the supply-demand dual weakness pattern remained unchanged, and construction material prices might continue to consolidate at lows.

[SMM Operating Rate of Steel Mills Using Externally Purchased Billets] According to an SMM survey, as of July 30, the operating rate of steel mills that mainly produce construction steel and use externally purchased billets was 17.16%, down 0.31 percentage points MoM from June and up 0.3 percentage points YoY.

Amid global supply-demand restructuring, dual-carbon constraints, and diversified downstream demand, China's silicon metal industry has entered a critical transformation period for improving quality and efficiency. As 2026 serves as a pivotal year linking past and future industry planning, the sector urgently needs an authoritative platform to analyze market trends and match resources. Deeply engaged in the silicon industry chain, SMM (Shanghai Metals Market) is proud to present , scheduled to take place from August 27 to 28. The summit will build a high-end exchange platform around the core pain points of the entire industry chain, collaborating with industry experts and leading enterprises to overcome cut-throat competition and promote the steady and long-term development of the industry. , as a supporting enterprise, sincerely invites you to gather in Xi'an on August 27-28 for this industry event. Click now and join hands with industry peers to witness the high-quality development of the silicon industry! Anhui Tianshun Environmental Protection Equipment Co., Ltd. was established in May 2007 and is located in the South Zone of Hanshan Economic Development Zone, Anhui province. It is a national high-tech enterprise specializing in the design, production, operation, and related supporting services of environmental protection equipment. The company holds qualifications including the Engineering Design Qualification Certificate (Environmental Engineering Air Pollution Prevention and Control Class B) and the Class I Certificate for Professional Contracting of Environmental Protection Projects. It is a member of the China Environmental Protection Industry Association, a champion enterprise of Anhui's "Specialized, Refined, Unique, and Novel" program, an executive council member of the Anhui Environmental Protection Industry Association, a key enterprise in Anhui's environmental protection industry, a provincial-level enterprise technology center, a provincial-level industrial design center, a provincial-level postdoctoral research station, and a "Beautiful Anhui" brand demonstration enterprise. In 2021, it was selected for the MIIT list of enterprises complying with the "Standardization Conditions for the Environmental Protection Equipment Manufacturing Industry." In 2023, it was listed in the "Catalogue of Major Environmental Protection Technologies and Equipment Encouraged for Development by the State," jointly released by MIIT and the Ministry of Ecology and Environment. It has participated in the formulation of two industry standards—the "Technical Specifications for Flue Gas Ventilation and Dust Removal in Steelmaking Electric Furnaces" and "High-Temperature Bag Filters"—as well as several group standards. Flue Gas Dust Removal Main Products LCDM long-bag low-pressure pulse bag filters, tertiary dust removal for steel mill converters, negative-pressure large bag filters for ferrosilicon furnaces (silicon metal furnaces), and desulfurization and denitrification units for various industries. The company has advanced technical solutions and practical experience in large-scale EAF steelmaking flue gas treatment systems, ferroalloy submerged arc furnace flue gas treatment, blast furnace gas purification, and ultra-low emission of silicon metal flue gas. The company's unremitting pursuit is to become a leading domestic enterprise in atmospheric dust control. For over a decade, the company has united and forged ahead, establishing cooperative relationships with many well-known enterprises such as Baowu Group, GCL Group, JISCO, Baotou Steel Group, Xiongwei Guangda, and Longteng Special Steel, enjoying a high reputation in the industry. Selected Solutions Looking ahead, Tianshun Environmental Protection will continue to uphold the development philosophy of "Tianshun Environmental Protection, Building Harmony Together." Guided by the market, we will ride the wind and waves and forge ahead, further focusing on the development of the entire industry chain of flue gas environmental protection and dust removal. We will actively explore new business areas, promote the company's business transformation, and continuously improve the layout of our two major segments: bag dust collectors and desulfurization and denitrification. We aim to realize the strategic deployment of "steadily enhancing the market position of bag dust collectors and expanding the field of ultra-low emissions in desulfurization and denitrification." With the support of high-quality project construction, through innovation and development, we will drive the company's faster, higher, and better growth. Contact Information Contact: Zhong Hua, 13625632666 Zhang Bing, 13965678812 Liang Ming, 18855588333 Tel: 0555-4718877, 4725678, 4718766 Fax: 0555-4718766 Website: Email: ahtshb@ahtshb.com Address: Hanshan Economic Development Zone (South District), Anhui Conference Manager Zhou Boyu 13062794772

According to SMM statistics, mill inventory and social inventory showed slight divergence this period, as production cuts at steel mills led to a slight decrease in mill inventory, while social inventory continued to build up. Total building materials inventory was 8.4734 million mt, up 35,500 mt MoM (+0.42%), and the pace of inventory buildup further slowed.

Befesa reported adjusted EBITDA of €124 million for H1 2026, up 11% year on year. Its steel dust recycling segment generated €104 million of adjusted EBITDA, up 8.3%, with margin expanding by 2.5 percentage points to 27.3%. Higher volumes, stronger zinc prices and operating efficiencies supported the result. Steel dust plant utilization averaged 67.4%, up 3.7 percentage points year on year. Befesa maintained its full-year adjusted EBITDA guidance of €250–270 million and expects to finish near the upper end of the range. The U.S. business was the main volume-growth contributor, with Q2 throughput up 33% year on year following new EAF steel dust supply contracts; U.S. utilization improved by 11 percentage points, while Europe operated at a 91% load factor. Higher waelz oxide sales contributed to a €3 million EBITDA gain, and an average Q2 LME zinc price of $3,463/t, up 31% year on year, added €7 million. Befesa said 2026 zinc concentrate TC settled at $85/t, while spot TCs remained historically low. It has hedged 60–70% of its zinc exposure for 2026–2028, with 2027 and 2028 prices locked at $3,000/t and $3,100/t, respectively.