【SMM Steel】ArcelorMittal Belgium finished consultations on closing its Tailored Blanks division in Ghent. It cited sustained losses and weak European auto demand. During talks, management detailed its restructuring plan; employee reps gave feedback. A social plan, approved by >70% of affected staff, will aid the transition. The final decision now goes to the board.

Tesla plans to produce the six-seat Model Y at its Shanghai factory and has asked suppliers to prepare for increased production. Tesla stated that it does not have specific plans to increase factory output yet and is currently awaiting government approval for its application to expand the factory area. In the first six months of this year, Model 3 deliveries increased by 6% year-on-year. Tesla hopes to compete in the Chinese market by introducing the new six-seat model. Meanwhile, in the United States, its focus is on the research and development of autonomous driving and robotaxis. Tesla expects overall sales in China to grow in the third quarter, and despite reducing sales staff in the global layoffs, the company's profitability has improved. According to insiders, Tesla's seven-seat Model Y sold in China is unpopular because the third-row seats are too narrow, even unable to accommodate large dogs.

[SMM Analysis: Loosening of Raw Material Market and Aluminum Plant's Price Pressure Psychology Lead to Continuous Decline in Aluminum Fluoride Prices] Amid the loosening of the raw material market and the strong price-cutting sentiment of downstream electrolytic aluminum enterprises, the price of aluminum fluoride continued to decline in August. According to SMM, the bidding price of downstream benchmark enterprises fell by 300 yuan/ton to 9,700 yuan/ton in August. In Shandong Province, electricity...