[Turkey] Over the past week, with Black Sea shipping nearly at a standstill and a Ukrainian steel mill suffering attack damage, several Turkish steelmakers have pivoted back to the Asian market for billet procurement. Turkey's billet import assessment has stabilized at 495–500 USD/tonne CFR. In terms of specific transactions, a mill in Izmir purchased 50,000 tonnes of imported billet from a trader at 495–500 USD/tonne CFR; prior to this, a section steel producer in the same region had already booked approximately 50,000 tonnes of Chinese billet. Notably, frequent attacks on Black Sea shipping routes have effectively paralyzed the dispatch of regional materials to Turkey. This disruption, compounded by the damage to a Ukrainian steel plant and elevated freight rates of around 45 USD/tonne from Russia to Turkey, has driven Turkish buyers' overall restocking demand firmly toward Asia.

Russia exported 12.5 mnt of coal to South Korea in the first half of 2026, an increase of 5.9 mnt, or 89.4%, year on year. Russia accounted for approximately 22% of South Korea’s coal imports and became its second-largest supplier after Australia. South Korea’s total coal imports rose by 21.3% to 56.9 mnt, with Russia contributing around 59% of the net increase. Australian shipments to South Korea increased by 35.4% to 19.5 mnt, while Indonesian supplies declined by 2.5% to 11.9 mnt and Canadian deliveries rose by 33.3% to 5.6 mnt. Combined growth from Russia and Australia reached 11 mnt, exceeding the 10 mnt increase in South Korea’s total imports and offsetting lower shipments from Indonesia, Colombia and the United States.

Shipments of Russian and Kazakh coal through Azov–Black Sea ports nearly came to a halt in August following repeated attacks on merchant vessels and a widespread withdrawal of insurance coverage. Turkish thermal coal quotations resumed their upward trend in mid-August after rising by 15–20% in late July. Russian coal for September-October delivery through northwestern Russian terminals was offered at around $120/t CFR, the highest level since autumn 2023. Non-Russian material, including Colombian and South African origins, was offered at $130–140/t CFR.

SMM, August 19: In the metals market: Overnight, base metals on the domestic market mostly fell. SHFE copper fell 0.89%. SHFE aluminum fell 0.75%. SHFE zinc fell 1.07%, SHFE tin fell 1.21%. SHFE nickel fell 0.25%. SHFE lead rose 0.47%. In addition, the most-traded alumina futures contract fell 0.07%, and the most-traded aluminum casting futures contract fell 0.46%. Overnight, ferrous metals all rose. Stainless steel rose 0.25%, iron ore rose 1.63%, and rebar rose 0.7%. HRC rose 0.67%. For coking coal and coke: the most-traded coking coal contract rose 2.22%, and the most-traded coke contract rose 2.46%. Overnight, on the overseas market, LME base metals broadly fell. LME copper fell 1.2%. LME aluminum fell 1.29%. LME lead rose 0.16%. LME zinc fell 1.68%. LME tin fell 1.12%. LME nickel rose 0.24%. Overnight, in precious metals : COMEX gold fell 1.88%, and COMEX silver fell 4.24%. Overnight, the most-traded SHFE gold contract fell 0.95%, and the most-traded SHFE silver contract fell 2.95%. As of 7:16 AM on August 19, overnight closing prices: Macro front China: [State Council: Broaden the Scope of Housing Provident Fund Withdrawal and Use] Premier Li Qiang recently signed a State Council decree, announcing the Decision of the State Council on Amending the Regulations on the Management of Housing Provident Funds, which will take effect on September 20, 2026. The amendments include broadening the scope of withdrawal and use. For the withdrawal of housing provident funds to pay rent, the threshold that rent must exceed a prescribed percentage of household wage income is removed; new circumstances in which housing provident funds can be withdrawn are added, including for the renovation of owner-occupied housing, payment of property management fees for owner-occupied housing, and other housing consumption scenarios approved by the State Council. The investment and utilization channels for housing provident funds are appropriately broadened, and it is clarified that housing provident fund management centers may use housing provident funds to purchase policy-oriented financial bonds. [Ministry of Commerce: 18 Measures Introduced to Further Stimulate the Vitality of the Lower-Tier Market] On the afternoon of August 18, the State Council Information Office held a press conference to introduce efforts to stimulate the vitality of the lower-tier market and boost consumption at the county level. A responsible official from the Ministry of Commerce stated that, regarding the optimization of the commercial environment in counties, the Opinions propose accelerating the renewal of existing commercial facilities, optimizing the layout of commercial outlets, improving supporting commercial services, and revitalizing idle resources and assets. The efficiency of urban-rural distribution networks will be improved, two-way distribution channels between urban and rural areas will be unblocked, and the coordinated development of online and offline channels will be promoted. In terms of enriching supply in county-level consumption, we will guide chain enterprises to accelerate their expansion into lower-tier markets, encourage local brands to uphold tradition while pursuing innovation, and develop new business formats in line with local conditions. We will expand the supply of high-quality, reasonably priced goods, accelerate the improvement of service formats such as elderly care and childcare, and promote the integrated development of commerce, agriculture, culture, tourism, and sports. (From the Wall Street CN APP) [Shanghai: By 2030, Striving to Build Shanghai into a Core Node in the Global Logistics and Supply Chain Network, an International Logistics Hub, and a Global Supply Chain Management Center City] The General Office of the Shanghai Municipal People's Government issued the "Shanghai Modern Logistics Development 15th Five-Year Plan." By 2030, a modern logistics system characterized by internal and external connectivity, convenience and efficiency, value-added empowerment, and smart and green development will be fully established. Efforts will focus on improving the logistics network composed of "gateway hubs—regional bases—community-level nodes." The logistics industry structure will be continuously optimized, logistics operation quality and efficiency will be further improved, and the international competitiveness, industrial support capacity, and livelihood security capability of logistics services will be significantly enhanced. The goal is to build Shanghai into a core node in the global logistics and supply chain network, an international logistics hub, and a global supply chain management center city. (From the Wall Street CN APP) US Dollar: The overnight US dollar index rose 0.07% to 99.65. Bond traders have adjusted their strategies once again. Following a series of data suggesting that a rate hike by the US Fed for the rest of the year is nearly impossible, options market bets are attempting to hedge against the risk of the Fed pivoting to an interest rate cut in 2027. This dovish bet contradicts recent movements in the US Treasury market: long-term bond yields have risen to multi-year highs, as a Fed on hold would keep inflation persistently above target for longer. Options traders closely tied to the Fed's policy path, however, are turning their attention to signs of US economic weakness, which they believe could trigger a market reversal. This trend first emerged when data released last week showed that inflation and consumer demand slowed down in July, cooling market expectations for a rate hike at the Fed's September meeting. Options market participants subsequently began adjusting their positions, reducing the magnitude of rate hikes priced into the swap market for the coming months. Some options are even considering hedging the risk of a rate cut that could occur by the middle of next year. "Concerns about rate hikes have diminished," said Jeff Schul, head of rates at Constitution Capital, noting that positions betting on that outcome are being unwound. According to CME "FedWatch": The probability that the Fed will keep interest rates unchanged through September is 65%, and the probability of a cumulative 25-basis-point rate hike is 35%. The probability that the Fed will keep interest rates unchanged through October is 51.4%, the probability of a cumulative 25-basis-point rate hike is 41.3%, and the probability of a cumulative 50-basis-point rate hike is 7.4%. "Fed Whisperer" Nick Timiraos: In a Cleveland Fed survey, business executives expected CPI inflation to be 3.3% over the next year, down slightly from Q2's 3.7%. They saw no significant changes in wage growth (2.8% over the next year vs. 2.9% in last year's survey) or employment levels. R&D spending growth was expected to slow down, projected at 2.0% over the next year, below the 3.1% in last year's survey. Bank of America's August Global Fund Manager Survey showed that most expect Fed Chairman Warsh to strike a neutral tone at the Fed's annual Jackson Hole symposium later this month. Among respondents, 31% expect a "hawkish" message, while only 7% expect a "dovish" one. (Jin10 Data APP) On the macro front: Data due today include UK July CPI m/m, UK July RPI m/m, Eurozone June seasonally adjusted current account, Eurozone July CPI y/y final, and Eurozone July CPI m/m final. Also in focus: ECB President Lagarde participates in a "Global Economic Outlook" discussion at the World Economic Forum's International Business Council (IBC) meeting; Kuaishou holds its earnings call. On the crude oil front: Both crude oil futures extended their gains from the previous two sessions overnight, with WTI crude up 0.81% and Brent crude up 0.51%. Al Jazeera reported, citing US officials, that Trump has directed his team not to negotiate with Iran until it is ready to sign an agreement. The official said there were positive discussions with Iran, but Trump decided to wait. The official added that there is no contradiction in the administration's statements on Iran negotiations. (Jin10 Data APP) While crude oil prices remain calm, diesel is seeing strong undercurrents. The US-Iran ceasefire agreement technically expired on Monday; Trump stated that the US is not currently negotiating with Iran but insisted the Strait of Hormuz is open and operating normally. The US Strategic Petroleum Reserve fell to 293.4 million barrels, the lowest since 1982. Ukrainian drone strikes pushed Russian crude exports to a four-week low, disrupting supplies in both the Middle East and the Black Sea, making refiners the big winners. Jet fuel and diesel prices per barrel equivalent are both near 2022 crisis levels, while WTI is at just $84.92, generating extremely wide crack spreads. (Wall Street CN)

[SMM Research] This study looks at South Africa's Bushveld Complex, the region behind most of the world's Platinum. It covers where the belt is, what comes out of it, who mines it, why it matters and what the years ahead may hold.

Russian drones launched a large-scale strike on a DTEK coal mine in Ukraine’s Dnipropetrovsk region overnight on August 17, killing one employee and injuring another. DTEK said the mine’s infrastructure sustained significant damage, with the full extent still under assessment.

SMM News, August 18: Metals market: Overnight, base metals in the domestic market mostly fell. SHFE copper fell 0.84%. SHFE aluminum fell 0.19%. SHFE zinc fell 0.48%, and SHFE tin fell 1.47%. SHFE lead edged up, while SHFE nickel edged down. In addition, the most-traded alumina futures contract fell 0.56%, and the continuous casting aluminum contract fell 0.71%. Overnight, ferrous metals mostly rose. Stainless steel rose 0.32%, iron ore rose 0.14%, and rebar fell 0.3%. Hot-rolled coil rose 0.18%. For coking coal and coke: the most-traded coking coal contract fell 0.18%, while the most-traded coke contract rose 0.23%. Overnight, in overseas metals, LME base metals mostly moved lower. LME copper fell 0.3%. LME aluminum rose 0.45%. LME lead fell 0.55%. LME zinc fell 0.11%. LME tin fell 0.49%. LME nickel fell 0.36%. Overnight, precious metals : COMEX gold extended the previous trading day’s gains, rising 0.81%, while COMEX silver rose 1.22%. Overnight, the continuous SHFE gold contract extended the previous trading day’s gains, rising 0.41%, while the continuous SHFE silver contract rose 0.82%. As of 7:16 on August 18, overnight closing prices: Macro front China: [The Ministry of Commerce and other departments jointly issued the “Opinions on Further Stimulating the Vitality of Lower-Tier Markets and Boosting County-Level Consumption”] The Ministry of Commerce and eight other departments released the “Opinions on Further Stimulating the Vitality of Lower-Tier Markets and Boosting County-Level Consumption,” which proposed accelerating the renewal of existing commercial facilities. It supports the upgrading and renovation of traditional department stores and aging shopping malls, and promotes optimized layout for branded chain stores, discount retail stores, and fresh e-commerce storefronts, among others. It will deepen the renovation and upgrading of the “1,000 Markets and 10,000 Stores” initiative, support the construction and upgrading of township commercial and trade centers, (agricultural) trade markets, and distinctive township fairs, and carry out standardized and regulated construction and renovation of new-type convenience stores and village-level integrated postal and express logistics service stations. [National Bureau of Statistics (NBS): From January to July, value-added industrial output above designated size nationwide grew 5.3%, and the national economy maintained a development trend toward new drivers, higher quality, and improvement] According to the National Bureau of Statistics (NBS): From January to July, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at its core, all regions and departments conscientiously implemented the decisions and arrangements of the CPC Central Committee and the State Council, adhered to the general principle of pursuing progress while ensuring stability, effectively responded to various external shocks and internal difficulties, focused on implementing more proactive and effective macro policies, and solidly advanced high-quality development. Production and supply grew steadily, employment and prices were generally stable, resilience in foreign trade continued to stand out, new drivers of growth expanded and strengthened, and overall economic performance remained stable, sustaining a development trend of shifting momentum toward new drivers and optimizing the structure. From January to July, the value added of industrial enterprises above the designated size nationwide increased by 5.3% YoY. By three major sectors, value added increased by 2.5% YoY in mining, 5.6% in manufacturing, and 5.4% in the production and supply of electricity, heat, gas, and water. Value added increased by 9.7% YoY in the equipment manufacturing industry and 13.8% in high-tech manufacturing, respectively 4.4 and 8.5 percentage points faster than overall industrial enterprises above the designated size. [National Development and Reform Commission (NDRC) and National Energy Administration Issue the 15th Five-Year Plan for Oil and Natural Gas Development] The National Development and Reform Commission (NDRC) and the National Energy Administration issued the 15th Five-Year Plan for Oil and Natural Gas Development. It proposed that by 2030, China’s oil and gas supply will reach 440 million mt of oil equivalent; newly added long-distance oil and gas pipelines will total 20,000 km; the nationwide long-distance oil and gas pipeline network will reach 220,000 km; natural gas storage capacity will continue to increase, accounting for more than 13% of national consumption; LNG receiving terminals will have a throughput capacity of 200 million mt/year; the capacity for imported natural gas via onshore pipelines will reach 114 billion m³/year; and annual CO₂ injection under carbon capture and storage/carbon capture, utilization and storage (CCS/CCUS) will reach 10 million mt. [NDRC Deploys Efforts to Accelerate the Deployment of New-Type Policy-Based Financial Instruments in 2026 and Increase Support for Private Investment Projects] On August 14, Comrade Yue Xiuhu, a member of the Party Leadership Group and Vice Chairman of the National Development and Reform Commission (NDRC), chaired a working meeting to deploy efforts to accelerate the deployment of new-type policy-based financial instruments in 2026 and increase support for private investment projects. Officials in charge from some provincial development and reform commissions, as well as officials in charge from China Development Bank, the Export-Import Bank of China, and the Agricultural Development Bank of China, and officials in charge from relevant departments and bureaus of the NDRC attended the meeting. Next, the NDRC will earnestly implement the decisions and arrangements of the CPC Central Committee and the State Council, actively work with relevant parties, and further accelerate all related work on the new-type policy-based financial instruments for 2026. (NDRC) [Li Bin of the State Administration of Foreign Exchange: Since July, China’s Foreign Exchange Market Has Remained Stable] In response to reporters’ questions on foreign exchange market conditions in July 2026, Li Bin, Deputy Administrator of the State Administration of Foreign Exchange, said that since July, the external environment has been complex and volatile, geopolitical uncertainty has risen, and international financial markets have continued to fluctuate. China’s foreign exchange market has remained stable, the scale of cross-border receipts and payments has expanded steadily, market expectations have been generally stable, and foreign exchange transactions have been rational and orderly. In terms of the scale of cross-border transactions, in July, total cross-border receipts and payments of non-bank sectors such as enterprises and individuals amounted to $1.7 trillion, up 20% YoY; foreign exchange market trading volume was $4.3 trillion, up 8% YoY, both remaining at relatively high levels. From the perspective of cross-border capital flows, in July, net cross-border capital inflows of $59.8 billion were recorded for non-bank sectors such as enterprises and individuals. Among these, net capital inflows under trade in goods remained high, while net capital outflows under trade in services and items such as dividend and interest payments by foreign-invested enterprises remained stable. From the perspective of foreign exchange market supply and demand, in July, banks posted a surplus of $18.3 billion in foreign exchange settlement and sales, with enterprises conducting settlement and sales transactions rationally based on actual needs and changes in market conditions; foreign exchange market supply and demand were basically balanced. (State Administration of Foreign Exchange) US Dollar: Overnight, the US dollar index extended the declines of the previous two trading days, falling a further 0.06% to 99.58. On Monday local time, US Treasury yields broadly moved higher. The 30-year Treasury yield, which is typically more sensitive to geopolitical events, rose by more than 4 basis points to 5.311%, the highest level since June 2007. The 10-year Treasury yield—the key benchmark rate for mortgages, auto loans, and credit card debt—rose by more than 2 basis points to 4.724%. The 2-year Treasury yield, which usually fluctuates in line with US Fed short-term rate decisions, rose by more than 1 basis point on Monday to 4.182%. Oil prices climbed as the 60-day deadline for the US-Iran peace agreement was set to expire on Monday, and Iran had ruled out the possibility of an extension. Investors were awaiting the release of the US Fed meeting minutes later this week to gain further insight into the US Fed’s latest monetary policy decision and the future path of interest rates. At its July 29 meeting, the US Fed voted 9–3 to keep rates unchanged in the 3.50% to 3.75% range. The three dissenting committee members—Hammack, Kashkari, and Logan—called for a 25-basis-point rate hike. According to CME “FedWatch”: the probability that the US Fed will keep rates unchanged through September was 65%, and the probability of a cumulative 25-basis-point hike was 35%. The probability that the US Fed will keep rates unchanged through October was 51.4%, the probability of a cumulative 25-basis-point hike was 41.3%, and the probability of a cumulative 50-basis-point hike was 7.4%. Citadel Securities said that after inflation had remained above target for an extended period, the US Fed’s continued reluctance to tighten monetary policy had kept long-term bond yields at multi-year highs and posed broader risks to the overall market. Noshad Shah, head of EMEA fixed income sales at Citadel Securities, said that although the policy rate was already 175 basis points below its peak, long-term US Treasury yields were still at their highest levels in nearly 20 years. Shah said: “In my view, this reflects the market’s belief that whether it is the US Fed or the fiscal authorities, when policymakers face difficult choices, they often tend to choose the easier path.”“As long as this situation persists, it will continue to pose risks to the broader market.” On Monday, the US 30-year Treasury yield climbed to a 19-year high, breaking above 5.28%. Data released last week showed that both inflation and consumer demand had slowed down, prompting the bond market to scale back expectations for a US Fed interest rate cut in September. Shah warned that the recent improvement in inflation and a weakening labor market should not be interpreted as meaning interest-rate risks have been eliminated. He noted that more than 55% of core goods prices were still rising. As a result, he believed the US Fed’s policy meeting next month would be a “dead heat.” Goldman Sachs said that, with US inflation cooling, market expectations for US Fed interest rate hikes remained overly aggressive. Goldman’s chief economist Jan Hatzius wrote in a report that, due to weak retail sales, disappointing employment data, and continued slowing in inflation, the likelihood of a US Fed rate hike at the September meeting was “very low” . Hatzius wrote: “Based on our baseline economic forecast, over time the probability that inflation data improve further is higher than the probability that they deteriorate again. We still believe the market’s pricing of the federal funds rate is too hawkish.” Data showed that the market had pushed back expectations for the next 25-basis-point US Fed rate hike to January next year, whereas a week earlier the market had fully expected the US Fed to hike in December. Goldman Sachs believed that, although market pricing was no longer as hawkish, there was still room for expectations for interest rate hikes to fade further. (Jinshi Data) On the macro front: Data due to be released today included the UK three-month ILO unemployment rate for June, the UK unemployment rate for July, the UK claimant count for July, Germany’s ZEW Economic Sentiment Index for August, the eurozone ZEW Economic Sentiment Index for August, the weekly change in US ADP employment for the week ending August 1, US annualized housing starts for July, total US building permits for July, the US import price index month-on-month for July, US industrial output month-on-month for July, and the US pending home sales index month-on-month for July. In addition, watch for: Xiaomi Group’s earnings conference call; Baidu’s earnings conference call. On crude oil: Overnight, both crude oil futures extended the previous session’s gains and continued to rise, with WTI up 3.09% and Brent up 2.91%. The US-Iran memorandum of understanding signed in June this year technically expired on Monday. With the expiration of the US-Iran ceasefire escalating tensions, oil prices strengthened. According to CCTV News, on August 17 local time, US President Trump made it clear that he was not seeking to extend the memorandum of understanding with Iran, and said there was "no timetable" for resolving the Iran issue, adding that he "was not in a hurry". Iran issued a tough response in tandem. US Energy Secretary Wright said the US would “fight a long war” against Iran, and Treasury Secretary Bessent hinted that new economic sanctions are expected to be introduced soon. Russia, meanwhile, has faced fuel shortages after Ukraine’s sustained strikes on refineries, and two regions have implemented gasoline rationing. Arne Lohmann Rasmussen, Chief Analyst at Global Risk Management, said that more oil being shipped through the Strait of Hormuz, combined with the US shift toward economic sanctions, is depressing the geopolitical premium and capping upside room for oil prices; however, the economic pressure strategy means the strait could be closed for months. (Wallstreetcn) Saudi Arabia is providing oil supplies loaded near the coast of Oman, indicating the country may be following the UAE’s lead by transshipping more crude oil through the Strait of Hormuz. According to people familiar with the matter, Saudi Aramco is supplying crude cargoes loaded at locations such as Sohar in the Gulf of Oman via ship-to-ship transfers. The cargoes involved are Arab Medium and Arab Heavy crude, suggesting the crude is highly likely to originate from the Persian Gulf. Saudi Aramco CEO Nasser said in March that the Yanbu pipeline mainly carries Arab Light and Arab Extra Light crude. He said at the time that the country’s offshore oil fields are primarily located in the Persian Gulf, forming the country’s supply of medium and heavy oil. Saudi Aramco declined to comment on the above information. (Jinshi Data APP)

[SMM Flash] Iridium and ruthenium markets are facing increased price risks as elevated prices, constrained supply and evolving technologies reshape the outlook for these minor PGMs. A five-year market assessment through 2030 highlights the importance of monitoring supply, demand, stocks and technological developments. While higher prices could provide some scope to increase mine supply in the near term, longer-term production remains more complex, with primary supply exposed to developments in key producing regions including South Africa, Zimbabwe and Russia. On the demand side, record-high prices are expected to encourage greater material efficiency, substitution and technological innovation. Iridium demand remains linked to high-purity crystal growth, electrochemical applications, catalysis and the hydrogen economy, although slower development of hydrogen projects has reduced some longer-term growth expectations. Ruthenium continues to benefit from data-storage applications, particularly as AI drives demand for data infrastructure, while chemical catalysis and emerging hydrogen and ammonia applications offer additional opportunities. The market outlook to 2030 will ultimately depend on the balance between constrained mine supply and changing end-use demand. Substitution and new technologies could create downside risks for prices, while limited liquidity and the growing recognition of iridium and ruthenium as critical materials could amplify supply risks. Monitoring mine economics, technological shifts and price sensitivity across major end-use sectors will therefore remain important for producers, fabricators and consumers.

Recently, Rongchuang New Energy Power System Co., Ltd., the Institute of Hydrogen Energy and Energy Storage Technology of Southwest Jiaotong University, and China Automotive Engineering Research Institute NEV Inspection Center (Tianjin) Co., Ltd. held a strategic cooperation signing and plaque-unveiling ceremony in Tianjin, marking the official establishment of the “Hydrogen Rail Transit Joint Innovation Laboratory” jointly built by the three parties. The establishment of the joint laboratory signifies that the three parties’ industry–academia–research collaborative cooperation in the field of hydrogen rail transit has entered a stage of substantive advancement . Attendees included Chen Weirong, a foreign academician of the Russian Academy of Engineering, Director of the Institute of Hydrogen Energy and Energy Storage Technology of Southwest Jiaotong University, and Chairman of Rongchuang New Energy; Tao Shiyong, General Manager of Rongchuang New Energy; and Gao Jidong, Party Secretary and General Manager of China Automotive New Energy, among others. Under the cooperation agreement, the three parties will adhere to the principles of resource synergy, complementary advantages, and mutual benefit and win-win outcomes, and carry out multi-level cooperation centered on hydrogen rail transit and fuel cell power systems. Key areas include R&D and validation of critical parts, product capability evaluation and certification, development of non-standard tests and engineering optimization, research on industry testing specifications, and the formulation of national and industry standards, among others. Leveraging universities’ scientific research capabilities, enterprises’ technological accumulation, and specialized detection and certification resources, the joint laboratory will further integrate the strengths of the three parties to advance breakthroughs in key technologies for hydrogen rail transit and their engineering application , accelerate the transformation of relevant scientific research achievements and project implementation, and provide technical and platform support for the development of the hydrogen rail transit industry.

A Russian airstrike hit ArcelorMittal Kryvyi Rih, Ukraine’s largest steel plant, early on August 16, killing at least two people and injuring 14. The company said key production facilities in its power generation and blast furnace sectors were damaged and that some production processes had been halted. It did not disclose the number of affected blast furnaces, production losses or an expected restart date.