High-Purity Iron Plant Targets US Rare Earth Magnet Supply Gap

Hertha Metals

High-purity iron is emerging as a hidden bottleneck in the US rare earth magnet supply chain as new defense sourcing rules approach. Houston-based Hertha Metals plans to build a 10,000 t/yr plant in Texas to produce high-purity iron used in neodymium-iron-boron permanent magnets.

The project targets a less visible vulnerability in magnet manufacturing. US policy has focused heavily on rare earth elements such as neodymium and praseodymium, but NdFeB magnets also require high-purity iron. Hertha Metals says about 90% of this material is currently produced in China.

The timing is strategically important. Updated Defense Federal Acquisition Regulations are set to take effect on 1 January 2027, restricting Chinese-origin rare earth magnets and constituent materials in covered US defense systems. That rule could force defense contractors, magnet makers and upstream material suppliers to rebuild supply chains around non-China sources.

Hertha Metals plans to break ground later this summer. The company says its Texas plant will become the first domestic producer of high-purity iron for this application, positioning the project at the intersection of magnet security, steelmaking technology and US industrial policy.

DFARS Rules Put Magnet Inputs Under Supply Chain Pressure

The 2027 DFARS deadline changes the strategic value of upstream magnet materials. Compliance will not depend only on where final magnets are assembled. It will also depend on the origin of constituent materials used in defense-related systems.

This creates a direct opportunity for domestic high-purity iron. NdFeB magnets require neodymium, praseodymium and often dysprosium or terbium for performance, but iron remains the major base component. If high-purity iron remains China-dependent, US magnet supply chains could still face compliance risk even if rare earth oxides or metals are sourced elsewhere.

Hertha Metals is trying to address that gap with its FLEXHERS process, short for flexible fuel hydrogen electric reduction smelting. The process combines electric arc furnace technology with natural gas or hydrogen to produce iron and steel.

The company says the technology can use lower-grade ores and iron ore fines that are difficult to process economically through conventional blast furnace routes. This could widen the domestic feedstock base and reduce dependence on imported high-purity iron.

Hertha currently operates a one-tonne-per-day demonstration plant in Conroe, Texas. It describes the site as the largest demonstration-scale single-step steelmaking facility in the US. Ore is sourced domestically from Minnesota, and the pilot facility is already producing material that meets customer specifications.

The planned high-purity iron facility will also produce trial steel products. Hertha sees the project as a stepping stone toward broader iron and steelmaking capacity, with a target of reaching roughly 500,000 t/yr of production within four to five years.

Cost competitiveness will be critical. Hertha says it does not plan to rely on a domestic supply premium. Instead, it aims to compete economically by replacing metallurgical coal with natural gas and electricity while using lower-cost ore feedstocks.

This claim matters because strategic materials projects often struggle when policy support is stronger than market economics. If Hertha can produce competitively without relying on premium pricing, the company could build a more durable position in both defense and commercial supply chains.

Hertha Metals CEO Laureen Meroueh

Domestic Iron Production Links Magnets, Electrical Steel and Clean Manufacturing

High-purity iron has strategic importance beyond NdFeB magnets. The material can also support electrical steel used in transformers, electric vehicle motors and other electromagnetic applications. These sectors are becoming more important as grid investment, electrification and domestic manufacturing policy expand.

The project also fits a wider shift in iron and steel markets. Traditional blast furnace production depends heavily on metallurgical coal and higher-emission processing routes. Meanwhile, demand for higher-grade iron inputs suitable for lower-carbon steelmaking is expected to rise as producers shift toward cleaner technologies.

Hertha’s process aims to sit inside that transition. By using electricity, natural gas or hydrogen, the company is positioning FLEXHERS as a lower-carbon alternative to legacy ironmaking. The ability to process lower-grade ore and fines could also help revive domestic iron production without requiring only premium feedstocks.

The US steel industry has increasingly focused on scrap-fed electric arc furnaces. That model supports recycling and lower emissions, but it does not fully solve domestic iron supply for high-purity applications. Magnets, electrical steel and advanced components often need controlled chemistry that scrap alone cannot easily provide.

This is where Hertha’s strategy becomes industrially relevant. The company is not only proposing another steel plant. It is targeting a specific materials gap between critical minerals policy, rare earth magnet manufacturing and advanced steelmaking.

Competition from subsidized overseas producers remains a risk. Hertha says it can compete on cost, but Chinese industrial support and below-cost exports could still challenge domestic producers. This is why policy, procurement rules and long-term customer commitments may become important even if the production technology works.

The company has not disclosed financing details, future fundraising plans or offtake agreements. That leaves open questions about capital structure, customer readiness and the pace of commercial scale-up. However, the 2027 DFARS deadline gives the project a clear market catalyst.

The broader implication is that rare earth magnet supply security cannot be solved by rare earth mining alone. The full chain includes ore, separation, metal conversion, alloying, magnet manufacturing and supporting inputs such as high-purity iron. Any weak link can create dependence.

Hertha Metals is betting that the next phase of US critical materials policy will recognise that reality. If the company can scale production, secure customers and maintain cost discipline, high-purity iron could become a small but essential piece of the domestic magnet supply chain.

The Metalnomist Commentary

Hertha Metals highlights a critical point often missed in rare earth policy: magnet security depends on more than rare earths. High-purity iron, electrical steel and alloy inputs will become strategic materials if US defense and electrification supply chains must move away from China.

India Stainless Steel Fuel Crunch Forces Jindal Stainless to Reduce Operations

Jindal Stainless

India stainless steel fuel crunch is now directly cutting production at Jindal Stainless, the country’s largest stainless steel producer. The company has begun operating its plants at reduced capacity as Middle East tensions disrupt fuel availability and global shipping routes.

The pressure is centered on critical industrial fuels and gases used across stainless steelmaking. Propane, LPG, and natural gas supplies have tightened after disruptions around the Strait of Hormuz, creating a direct operational risk for Indian mills.

Jindal Stainless said limited fuel availability has affected several manufacturing processes and forced the company to rationalise operations. The India stainless steel fuel crunch is also raising the risk of shipment delays for customers.

Stainless Steel Mills Face Higher Fuel Exposure Than Carbon Steel Producers

Stainless steel producers face a different energy risk profile from conventional carbon steel plants. Blast furnace-based steelmakers can use internally generated gases from coke ovens and blast furnaces, while scrap-based stainless steel routes depend more heavily on external fuel supply.

This structural difference is now becoming a competitive and operational weakness. When LPG, propane, or piped natural gas supplies tighten, stainless steel mills have fewer internal alternatives to maintain stable production.

Jindal Stainless has around 3 million tonnes per year of production capacity and plans to expand to 4.2 million tonnes per year in April 2026-March 2027. However, the current fuel disruption shows that capacity growth depends not only on demand and investment, but also on reliable energy logistics.

Fuel Allocation Becomes a Strategic Issue for Indian Industry

India’s fuel allocation policy is adding another layer of pressure. The government has diverted part of natural gas supply away from industry to prioritise household consumption, leaving manufacturers exposed to tighter industrial supply.

Jindal Stainless said clear guidance on propane, LPG, and natural gas allocation will be essential for stainless steel producers. Stable fuel supply is now necessary for mills to plan production, manage customer commitments, and avoid deeper disruptions.

The broader Indian stainless steel sector is also feeling the strain. Small and mid-sized mills, particularly in regions such as Gujarat, are cutting output as LNG shortages deepen. Mills reliant on LPG or piped natural gas face the most severe constraints.

The India stainless steel fuel crunch could therefore become more than a temporary supply issue. If fuel availability does not stabilise, temporary shutdowns may follow across parts of the sector, tightening stainless supply and delaying deliveries to downstream manufacturers.

The Metalnomist Commentary

India’s stainless steel sector is showing how energy security can become an industrial competitiveness issue. Scrap-based steelmaking supports decarbonisation, but it still needs stable external fuel systems to remain reliable at scale.

India Gas Supply Crunch Raises Steel Supply Risk as Mills Cut Output

India Steel

India gas supply crunch is beginning to disrupt the country’s steel sector, with secondary producers and gas-dependent mills facing rising operational pressure. The crisis has intensified because India sources 67% of its LNG imports from the Middle East, where the US-Israel war with Iran has created major supply disruption.

India gas supply crunch is hitting smaller induction furnace-based steelmakers first. Several producers are rationing available gas, reducing output, and struggling to meet customer requirements. The government has also prioritized domestic natural gas supply for households, which has further tightened availability for industrial users.

India gas supply crunch now threatens more than steelmaking alone. It is affecting cutting operations, maintenance work, downstream galvanizing, packaging materials, plastics, propane, ammonia, limestone logistics, and imported thermal coal costs. As a result, the steel value chain faces a broader cost and supply shock.

Gas-Based Steelmakers and Secondary Mills Face Uneven Pressure

Gas exposure varies sharply across India’s steel industry. Smaller induction furnace-based mills in Mandi Gobindgarh, Punjab, have already reduced production where they rely on piped natural gas. Some manufacturers in the region can meet only about half of customer requirements, while smaller mills in Gujarat are fulfilling about 70% of demand.

Secondary steel producers that use scrap and direct-reduced iron are under particular pressure. These mills often operate with thinner margins and less procurement flexibility than large integrated producers. Rising gas costs, limited availability, and weaker scrap economics can quickly force production cuts.

The pressure is not uniform across regions. Producers in Jalna, Maharashtra, said they had not yet cut production because of gas shortages. However, imported thermal coal prices have affected most secondary mills, and imported scrap has become less viable. This means even coal-based mills are not fully protected from the wider input-cost shock.

Gas-based DRI operations face one of the clearest risks. ArcelorMittal Nippon Steel India is viewed as vulnerable because about 65% of its 9mn t/yr steelmaking capacity uses the gas-based DRI-electric arc furnace route. Market participants expect a potential near-term supply reduction if gas disruption worsens.

Downstream Steel and HRC Prices Face New Volatility

The downstream steel sector is also exposed to the gas shortage. Galvanized steel producers rely heavily on propane, and some integrated mills have already reduced galvanized output marginally while conserving existing gas supplies. Smaller re-rollers are at greater risk of curtailing or stopping operations.

The disruption has also reached trade and service centers. Some plate suppliers are unable to fulfill pending orders because their cutting processes depend on gas. This shows how energy shortages can spread beyond melt shops and rolling mills into finishing, processing, and distribution.

Steel prices may remain firm if input costs stay elevated. Indian domestic hot-rolled coil prices have already risen sharply, with 2.5mm-4mm HRC assessed at Rs54,300/t ex-Mumbai on 6 March, up 17% from mid-December 2025. Higher gas, coal, propane, ammonia, and logistics costs could keep pressure on finished steel prices.

However, demand risk is also rising. Major steel-consuming industries may face the same gas constraints, which could reduce their production and lower steel procurement. This creates a difficult market balance: supply costs are rising, but demand traction remains uncertain as buyers wait for clearer conditions.

The Metalnomist Commentary

India’s steel sector is facing an energy-security stress test. The biggest risk is not only lower steel output, but a chain reaction across DRI, galvanizing, cutting, re-rolling, and downstream demand.

DongA Special Metal Begins Mass Production of High-Purity Ferro-Titanium

DongA Special Metal - Fe-Ti(Ferro-Titanium)

Korean firm pioneers domestic supply of advanced ferroalloy using titanium scrap and sustainable refining technology

Strategic Entry into the Ferroalloy Market

DongA Special Metal, a South Korean metallurgy company, has launched commercial-scale production of high-purity, high-quality ferro-titanium, marking a strategic entry into the global ferroalloy market. Ferro-titanium — an alloy of iron and titanium — is a vital material in steelmaking, where it serves as a powerful deoxidizer and cleanser, especially for high-grade steels, stainless steel, and special alloys. Despite growing demand, Asia has long relied on imports from Japan and China, with no domestic mass-production capacity — until now.

Closed-Loop Scrap Recycling and Custom Alloy Precision

DongA’s breakthrough lies in its ability to produce ferro-titanium using recycled industrial titanium scrap, implementing a proprietary refining process that ensures strict impurity control and customizable titanium content. The firm’s production allows titanium content to be adjusted between 30–75%, with tailored particle sizes and distribution, offering superior quality consistency over traditional suppliers. “The key differentiator is stable quality with adaptable specs. That’s our competitive edge,” said Vice President Jae-Ie Jang in an interview with The Metalnomist.

Powder-Grade Product for Core Wire Export

Beyond ingot forms, DongA also produces ferro-titanium powder for cored wire applications, used to inject precise Ti content into molten steel. Due to stringent quality requirements in powder metallurgy, any inconsistencies would render the material unusable — yet DongA's product has earned international recognition and is now being exported abroad. In applications like aerospace, defense, and high-temperature industrial components, ferro-titanium ensures both performance and durability under extreme conditions.

From Domestic Substitution to Industrial Security

By securing ISO quality and environmental certifications, DongA aims to align its products with global standards, reinforcing Korea’s self-sufficiency in strategic materials. Amid increasing global supply chain risks — including recent tariff tensions led by the Trump administration — the localization of key inputs like ferro-titanium is emerging as a national competitiveness issue. DongA’s model of resource circulation and material independence could soon become a blueprint for Korea’s broader industrial resilience.

The Metalnomist Commentary

DongA Special Metal's entry into the ferro-titanium space is more than market diversification — it's a national-level materials strategy. With advanced purification technology, recycling innovation, and precision metallurgy, the firm not only reduces reliance on imports but also sets the stage for Korean alloys to lead in critical sectors like aerospace, defense, and next-gen steelmaking.

Element 25 Butcherbird Manganese Expansion Gains Funding for Battery Supply Chain

Element 25

Element 25 Butcherbird manganese expansion has moved forward after the Australian metals producer raised $18mn in equity to support the next phase of mine growth. The funding will help expand manganese concentrate output from the Butcherbird mine in Western Australia.

The project is expected to triple Butcherbird’s manganese concentrate production to 1.1mn t/yr from 365,000 t/yr. Full mechanical completion and commissioning are expected in the first quarter of 2027.

Element 25 Butcherbird manganese expansion is strategically important because the mine will supply feedstock for the company’s planned battery-grade manganese sulphate refinery in Louisiana. That project links Australian ore supply with US battery materials processing.

The expansion also strengthens Element 25’s role in the electric vehicle supply chain. The company already has offtake agreements with General Motors and Stellantis, giving the project direct exposure to automaker demand for non-China battery materials.

Butcherbird Expansion Builds Manganese Feedstock Scale

Western Australia’s state government approved the Butcherbird expansion in March 2025. The mine is expected to operate for at least 18 years, giving Element 25 a long-term feedstock platform.

The planned increase to 1.1mn t/yr of manganese concentrate would materially change the scale of the operation. Higher concentrate output should support downstream conversion into battery-grade manganese sulphate while also leaving room for sales into traditional steel markets.

Manganese remains a key steelmaking input because it improves strength and toughness. Element 25 plans to sell excess concentrate to steelmakers, creating a secondary demand channel outside batteries.

However, the main strategic value is in batteries. Manganese is increasingly important for lithium-ion battery chemistries as automakers seek lower-cost, more secure and less cobalt-dependent cathode materials.

Louisiana Refinery Links Australia to US Battery Materials Policy

Element 25’s manganese concentrate will mainly feed its battery-grade high-purity manganese sulphate monohydrate facility in Louisiana. The refinery is planned for 135,000 t/yr of production capacity.

The US government backed the Louisiana refinery with a $166mn grant in January last year. This support reflects Washington’s effort to build domestic processing capacity for battery materials and reduce reliance on China-controlled supply chains.

The Australian government also opened a A$50mn loan package in June to support the Butcherbird expansion. Together, the US and Australian support show how allied governments are trying to connect mining, refining and EV manufacturing supply chains.

Element 25 Butcherbird manganese expansion therefore fits a broader industrial strategy. Australia provides the resource base, while the US builds refining capacity closer to automakers and battery manufacturers.

The project’s success will depend on execution at both ends of the chain. Butcherbird must deliver concentrate at scale, while Louisiana must convert that material into battery-grade sulphate that meets customer specifications.

The Metalnomist Commentary

Element 25’s project shows how manganese is moving from a steelmaking material into a strategic battery supply input. The key challenge will be proving that mine expansion and US chemical refining can scale together on the timeline automakers require.

Eramet Manganese Ore Volumes Rise Despite Lower Gabon Mine Output

Eramet Manganese

Eramet manganese ore volumes increased in the first quarter as stronger transportation and external sales offset lower mine production from Comilog’s Moanda operations in Gabon. The French multi-metals group transported 1.61mn t of manganese ore in January-March, up 16% from a year earlier.

Eramet manganese ore volumes are on course to reach 6.4mn-6.8mn t for the full year. This suggests that logistics performance and inventory movement remain strong despite weaker quarterly production.

Eramet manganese ore volumes matter because Gabon is one of the world’s key manganese ore supply sources. Stable exports from Comilog support alloy producers in steelmaking markets, especially outside China.

Manganese ore production at Moanda fell by 11% on the year to 1.59mn t in the first quarter. However, external ore sales rose by 10% to 1.36mn t, showing that market deliveries remained resilient.

Alloy Output Supports Manganese Chain

Eramet’s manganese alloy production rose by 4% on the year to 168,000t in the first quarter. Sales increased by 6% to 158,000t.

The company produces manganese alloys across six sites in Norway, the US, France and Gabon. This gives Eramet exposure to both upstream ore and downstream alloy markets.

Manganese alloys are essential inputs for steelmaking. Ferro-manganese and silico-manganese improve strength, hardness and deoxidation performance in steel production.

The increase in alloy output indicates that downstream demand remained sufficient to support production. This is important at a time when some regional steel markets are under pressure from weak construction activity and cautious buying.

Eramet’s integrated position gives it flexibility. Higher transported ore volumes support external customers, while alloy production allows the company to capture additional value further along the manganese chain.

India Demand Offers Support as China Remains Weak

Eramet expects manganese ore demand to increase slightly in 2026. Growth is expected to come from higher alloy production in India and other non-China markets.

India is becoming more important in the manganese market because of steel production growth and alloy capacity expansion. Stronger Indian alloy output can support ore demand even when Chinese consumption is weaker.

China remains a pressure point. Eramet expects manganese ore demand in China to stay under pressure, reflecting slower steel demand and weaker market conditions.

This creates a more regionalised manganese outlook. Suppliers with access to growing alloy markets outside China may be better positioned than those heavily dependent on Chinese demand.

For Eramet, the key issue will be maintaining transported volumes while improving mine output. If Moanda production recovers and alloy demand remains steady, the company can strengthen its position across both ore and alloy markets.

The Metalnomist Commentary

Eramet’s first-quarter figures show that manganese supply strength depends as much on logistics and sales execution as mine output. India’s alloy growth could become a more important demand anchor if China’s steel-linked manganese consumption remains weak.

Moil Manganese Ore Prices Rise Sharply as Indian Supply Tightens

Moil

Moil manganese ore prices rose sharply for April as tight domestic availability and restricted imports pushed Indian buyers into a firmer market. State-owned Manganese Ore India increased prices across ferro-grade, silico-grade and fines material, reflecting stronger supply pressure across the domestic manganese chain.

Moil manganese ore prices for ferro-grade material with manganese content of 44% and above increased by 15% from March. Material below 44% manganese rose even more sharply, with prices up 17.5% for April.

Moil manganese ore prices also increased for 25% and 30% silico-grade ore and fines, both rising by 17.5% from March. The broad-based increase shows that tightness is affecting multiple ore grades rather than only high-grade ferro-alloy feedstock.

Domestic Ore Tightness Supports Ferro-Alloy Feedstock Prices

India manganese ore supply has become tighter as local availability remains constrained and imports face pressure from geopolitical disruptions. This has strengthened Moil’s pricing power at a time when ferro-alloy producers need reliable manganese feedstock.

Ferro-grade manganese ore is essential for ferro-manganese and silico-manganese production. These alloys are key inputs in steelmaking, where manganese improves strength, toughness and deoxidation performance.

The price increase is therefore important for Indian steel and alloy producers. Higher manganese ore costs can feed into ferro-alloy margins and eventually influence steelmaking input costs if producers cannot fully absorb the increase.

Moil Output Rose but Sales Stayed Largely Stable

Moil produced around 1.9mn t of manganese ore during the April 2025-March 2026 fiscal year, up 5.6% from the previous year. Sales volumes remained broadly stable at 1.58mn t over the same period.

The company produced around 164,000t and sold around 202,000t in March, despite supply chain constraints. This suggests that Moil maintained shipments, but broader market availability remained tight enough to support a strong April price increase.

For the Indian manganese market, the key issue is whether import constraints ease or domestic production can respond quickly. If supply remains tight, ferro-alloy producers may face continued cost pressure into the next pricing cycle.

The Metalnomist Commentary

Moil’s April price increase shows how quickly manganese ore pricing can react when domestic supply and import flows tighten together. For India’s steel value chain, manganese security is becoming more important as ferro-alloy costs remain exposed to both local mining output and global logistics risk.

EU Ferro-Vanadium Imports Fell in 2025 as Demand Stayed Weak

Ferro-Vanadium

EU ferro-vanadium imports declined in 2025 as weak downstream demand and an oversupplied market reduced buying across Europe’s largest consuming hubs. EU countries imported 16,694 tonnes of ferro-vanadium during the year, down 6.4% from 2024.

The decline was led by the Netherlands, Germany, and Italy, which together accounted for 66.2% of total EU ferro-vanadium imports. Lower buying in these markets shows that European steel and alloy demand remained under pressure through 2025.

EU ferro-vanadium imports are closely tied to steelmaking activity because ferro-vanadium is used to improve strength, toughness, and performance in steels. Weak demand therefore signals continued softness in construction, manufacturing, and specialty steel production.

Netherlands, Germany and Italy Drove the Import Decline

The Netherlands remained the largest EU ferro-vanadium importer, but its intake fell 15.7% on the year to 4,633 tonnes. Germany’s imports declined 14.6% to 3,162 tonnes, while Italy’s imports dropped 8.1% to 3,250 tonnes.

These reductions matter because all three markets serve important roles in European metals distribution, steelmaking, and alloy procurement. When buying slows in these countries, it usually reflects broader caution across the regional value chain.

The import decline also confirms that oversupply limited restocking appetite. Buyers had little urgency to secure additional ferro-vanadium when downstream orders remained weak and market availability stayed comfortable.

Export Flows Shifted as Austria Lost Share

Austria remained the top exporter of ferro-vanadium to other EU countries in 2025, but shipments fell sharply. Austrian exports declined 29.6% on the year to 3,414 tonnes.

The Czech Republic became the second-largest exporter into Europe, with deliveries rising 21.4% to 2,275 tonnes. This pushed it ahead of South Africa, South Korea, and the Netherlands compared with the previous year.

The shift suggests that European ferro-vanadium supply patterns are becoming more fluid. However, the broader market signal remains bearish: EU ferro-vanadium imports fell because demand was not strong enough to absorb available supply.

The Metalnomist Commentary

The ferro-vanadium market shows how alloy demand remains vulnerable when steel consumption weakens. Europe’s lower imports point to a market still waiting for a stronger industrial recovery, especially in construction, machinery, and specialty steel.

China Vanadium Consumption Set to Rise in 2026 as VRFB Demand Accelerates

Vanadium

China vanadium consumption is expected to rise in 2026 as vanadium redox flow batteries, steelmaking, lithium iron phosphate cathode materials and denitration catalysts increase demand. The strongest growth is likely to come from VRFB-based energy storage, where projects are entering a more concentrated construction and commissioning phase.

China vanadium consumption reached 125,900t of vanadium pentoxide equivalent in 2025, up 6.1% from 2024. The market is now shifting from a steel-dominated structure toward a more diversified demand base.

China vanadium consumption still depends heavily on steel, but the share of energy storage has expanded quickly. Steel accounted for 70.9% of total demand in 2025, down from 87.9% in 2021. Energy storage rose to 20% of total use from only 4% over the same period.

This change is strategically important for vanadium producers. Demand is no longer driven only by construction steel, rebar and alloy additions. It is increasingly tied to long-duration energy storage, grid stability, batteries, catalysts and higher-value industrial applications.

VRFB Storage and Steel Demand Drive the 2026 Consumption Outlook

Vanadium demand from VRFB energy storage is expected to increase sharply in the second half of 2026. China’s National Development and Reform Commission and National Energy Administration issued a notice on 30 January to improve the generation-side capacity price mechanism, supporting longer-duration storage.

This policy direction matters because VRFB technology is better suited to long-duration applications than many short-duration battery systems. VRFBs offer long cycle life, high safety, deep-discharge capability and easier electrolyte reuse.

China’s VRFB installations in 2026 are preliminarily estimated at 4-5GWh. This forecast reflects projects already under construction and the availability of high-purity vanadium for electrolyte production.

That installation level would require around 32,000-40,000t of V2O5 equivalent. This would represent an increase of 8,000-16,000t from the previous year, making VRFBs the largest source of incremental vanadium demand.

The growth builds on rapid progress in 2025. VRFB projects with completed electrolyte filling totalled about 3,037.5MWh last year, up 1,027.3MWh from 2024. China’s cumulative VRFB installed capacity reached about 6,064.5MWh by the end of 2025, with an average duration of 4.12 hours.

The market is now moving from pilot-stage expansion to larger system deployment. As more long-duration storage projects reach construction and commissioning, vanadium electrolyte demand could become more predictable.

Steel remains the largest end-use sector. Vanadium demand from China’s steel industry is expected at 92,000-95,000t in 2026, up 3,000-6,000t from 2025.

The increase is tied to stronger demand from machinery, energy, shipbuilding, automotive and rail sectors. These ferro-vanadium end-use segments are expected to grow by around 1.2% in 2026.

The steel demand signal was already visible in the first quarter. Steel-sector vanadium consumption reached around 22,600t, up 1,800t from a year earlier.

Rebar could also provide support. Output of higher-grade steel reinforcement bar is expected to rise as infrastructure investment accelerates. Production licence rules for construction rebar took effect on 1 April, while quality traceability requirements have expanded.

These rules should raise the share of vanadium-nitrogen micro-alloyed hot-rolled rebar. That would support demand for vanadium-nitrogen alloy, especially in higher-strength construction products.

The 2025 steel data show a more complicated picture. Vanadium consumption in the steel sector reached around 89,300t, up 1,700t from 2024. However, vanadium-nitrogen alloy consumption fell by 3.8% to 36,690t because rebar’s share of vanadium use declined.

China’s rebar output fell to 186.3mn t in 2025, down 4.5% from a year earlier. This reduced vanadium demand from traditional construction steel.

Ferro-vanadium performed better. FeV50-equivalent consumption rose by 10.4% to around 39,985t, supported by stronger downstream output in several industrial sectors.

Automotive production reached 34.778mn units in 2025, up 9.8%. Civil steel shipbuilding totalled 52.295mn deadweight tonnes, up 18%. Excavator output rose by 17% to 379,643 units.

Machine tool output also increased. Metal-cutting machine tool production rose by 9.7%, while metal-forming machine tool output increased by 7.2%. These sectors helped offset weakness in rebar.

Vanadium intensity also rose. China’s vanadium use per tonne of crude steel increased to 51g of vanadium metal equivalent in 2025 from 48g in 2024. Rebar intensity edged up to 152.5g, while other steel products rose to 26.6g.

LFP cathode materials will provide another smaller but fast-growing demand source. Vanadium consumption from LFP cathodes is estimated at 2,000-2,500t in 2026, assuming a typical 0.2% V2O5 addition rate.

That would be up by 1,000-1,500t, representing growth of 100-150%. The base remains small, but the rate of increase is significant.

Denitration catalysts should also support demand. Chemical-sector vanadium consumption is expected at around 7,000t in 2026, up about 500t, or 7.7%. Demand will be supported by catalyst replacement, new coal-based thermal power projects and higher sulphuric acid output.

In 2025, chemical-sector vanadium use was around 6,500t, up 200t from 2024. Titanium-alloy-related consumption fell by around 400t, tracking weaker Chinese titanium product exports.

Supply Growth Remains Limited by Feedstock and Cost Pressure

China’s vanadium supply remains highly concentrated, but output growth is not straightforward. The country accounted for 68.8% of global vanadium capacity in 2025 and 72.4% of global production.

China’s total vanadium capacity reached 277,600t in 2025. Actual output was 163,900t, down 900t from 2024.

The production base is dominated by vanadium slag. Output from vanadium slag reached 141,300t in 2025, broadly unchanged from the previous year.

Some producers reduced supply. Xinjiang Da’an and Yunnan Yukun did not produce, cutting combined output by about 8,000t. Other producers, including Chengsteel, Desheng and Dagang, raised output by around 15%, offsetting part of the loss.

Stone-coal-based vanadium output fell more sharply. Production declined to 7,600t in 2025, down 2,600t from 2024, as lower prices left all stone-coal producers loss-making.

This route remains highly price-sensitive. At current price levels, only one large-scale stone-coal producer is operating, with output of around 100-120 t/month of ammonium metavanadate on a V2O5-equivalent basis.

A Shaanxi-based producer with capacity of 300-350 t/month has been suspended since early 2026 because of safety issues. It is unlikely to restart in the first half.

Vanadium flake prices rose to 83,000-84,000 yuan/t in March, prompting some stone-coal producers to consider restarts. However, current prices still appear insufficient to drive a large supply response.

Even when prices approached 110,000 yuan/t in 2023, stone-coal-based output only reached about 11,000t. This suggests that 2026 output growth from stone coal will likely remain limited.

Secondary resources are becoming more important. Vanadium output from spent catalysts and other secondary sources rose to 15,100t in 2025, up 1,900t from 2024.

This included about 6,700t from alumina by-product recovery, up around 1,700t. Output from spent catalysts and petroleum residues stayed broadly stable despite lower vanadium prices.

The reason is co-product economics. Vanadium is often recovered alongside molybdenum and tungsten from secondary feedstocks. Higher molybdenum and tungsten prices supported operating rates and helped keep secondary recovery viable.

Secondary output is expected to remain broadly unchanged in 2026. Feedstock availability is relatively stable, but China’s restrictions on solid-waste imports since 2017 limit the potential for major raw material growth.

Vanadium slag-based supply may edge higher in 2026, but feedstock constraints create uncertainty. Qinhuangdao Baigong completed a 10,000 t/yr V2O5 line in early 2026 and is ramping toward normal operations. Its 2026 output guidance is around 5,000t.

However, tighter domestic feedstock availability could offset this addition. Vanadium-titanium magnetite supply in the Panzhihua area is particularly constrained, potentially cutting output by about 4,500-5,000t of V2O5 equivalent.

Producers in Sichuan and Yunnan may need to source vanadium-titanium magnetite from the Chengde area or increase imports to keep output in line with 2025. A northeastern steelmaking-based vanadium producer has also reduced vanadium-titanium magnetite imports since December 2025.

This creates a cautious supply outlook. China’s vanadium output may edge higher in 2026, but the increase depends on whether new slag-based capacity can offset feedstock tightness and further weakness in stone-coal production.

The market therefore faces a potential demand-led tightening risk. VRFB demand is rising quickly, steel demand is improving modestly and smaller sectors are growing. Supply growth, meanwhile, remains constrained by feedstock, cost pressure and limited secondary resource availability.

For vanadium producers, the key opportunity lies in high-purity electrolyte-grade material. VRFB demand requires reliable vanadium quality, stable supply and long-term availability. Producers that can supply battery-grade vanadium will be better positioned than those focused only on metallurgical demand.

For steel users, the issue is price exposure. If VRFB demand absorbs more vanadium units, ferro-vanadium and vanadium-nitrogen alloy buyers could face stronger competition from the energy storage sector.

For energy storage developers, the issue is raw material security. VRFB growth depends on enough high-purity vanadium to support electrolyte production. Supply constraints could affect project economics if demand accelerates faster than conversion capacity.

The Metalnomist Commentary

China’s vanadium market is entering a new phase where steel remains the base, but VRFBs set the growth direction. The strategic tension in 2026 will be whether constrained supply can keep pace with energy storage demand without pricing steel users out of the market.

Anglo American Copper Output Rises as Chile Offsets Quellaveco Grade Decline

Anglo American, Copper

Anglo American copper output rose slightly in the first quarter as stronger Chilean mine performance offset lower grades at Quellaveco in Peru. The global mining group produced 170,400t of copper during the quarter, up 1% from a year earlier.

Anglo American copper output was supported by higher throughput at Los Bronces and Collahuasi, along with improved recoveries at Collahuasi. Chilean copper production increased by 9% to 97,000t, while Peruvian output fell by 8% to 73,400t.

Anglo American copper output remains on track with unchanged 2026 guidance of 700,000-760,000t. The company had already lowered that target in February because of expected lower grades at Collahuasi.

The result confirms that copper remains Anglo’s strategic centre as the group continues reshaping its portfolio. Nickel is moving toward disposal, manganese is recovering from weather disruption, and copper is becoming the company’s clear lead business.

Los Bronces and Collahuasi Support Chilean Copper Performance

Los Bronces output rose by 12% to 48,500t after the restart of its second plant. The restart improved throughput and gave Anglo a stronger base in Chile during the quarter.

Collahuasi also delivered a stronger result. Anglo’s attributable share of production rose by 10% to 38,800t, supported by higher throughput and improved recoveries.

These gains helped offset weaker output from Quellaveco. The Peruvian mine faced expected lower grades, reducing copper production despite its importance as one of Anglo’s major growth assets.

The first-quarter result shows how copper production increasingly depends on ore grade, plant availability and recovery performance. Higher throughput can support output, but grade decline remains a major constraint across the industry.

Anglo’s growth is still weighted toward the second half of the year. Market attention will focus on Collahuasi’s return to higher-grade ore, the ramp-up of desalination capacity and the continued benefit from Los Bronces’ second plant restart.

The proposed merger with Teck Resources also remains important. Anglo said the deal is still on track for completion between September 2026 and March 2027. South Korean approval has been secured, leaving Chinese anti-monopoly clearance as the final major regulatory hurdle.

If completed, the merger would deepen Anglo’s copper exposure and reinforce the industry trend toward scale in high-quality copper assets.

Nickel Falls as Manganese Rebounds From Weather-Hit Base

Anglo’s nickel production fell by 7% year on year to 9,100t because of maintenance at Barro Alto and Codemin in Brazil. Barro Alto output declined by 7% to 7,500t, while Codemin fell by 6% to 1,600t.

The company expects nickel production to improve gradually from the second quarter. However, nickel is no longer central to Anglo’s long-term portfolio strategy.

Anglo is still working through the European Commission’s anti-monopoly review of the agreed sale of its nickel assets to MMG Singapore Resources. The deal is worth up to $500mn.

Manganese ore output rose sharply from a weak base. Anglo’s 40% attributable production jumped by 118% to just over 759,000t after operations recovered from the disruption caused by tropical cyclone Megan in early 2025.

Sales volumes rose even more strongly, increasing by 217% to 946,000t. However, weather still affected the business, with second-quarter output down 16% from the fourth quarter of 2025 because of adverse weather and cyclone Narelle.

The portfolio direction is now clearer. Anglo is prioritising copper and iron ore while continuing sale processes for steelmaking coal and De Beers. Nickel is becoming a disposal asset, and manganese remains a recovery story after weather-related disruption.

For copper markets, Anglo’s modest first-quarter increase is less important than its second-half execution. The company needs stronger grades, stable plant performance and project discipline to support its full-year copper target.

The Metalnomist Commentary

Anglo American’s first quarter shows that copper growth is increasingly a quality-of-ore and processing-efficiency story. The strategic focus now shifts to whether Collahuasi, Los Bronces and the Teck merger can turn Anglo into a more copper-led mining company.

Traxys to acquire Carbomax in Sweden to deepen Nordic ferro-alloy supply

Carbomax

Traxys to acquire Carbomax in Sweden in a deal that expands its reach in Nordic steelmaking inputs. Traxys to acquire Carbomax in Sweden to add a regional operator focused on ferro-alloys, carbon products, and briquettes. As a result, Traxys to acquire Carbomax in Sweden as buyers prioritize local service and secure supply.

Carbomax supplies steel plants and foundries across the Nordic region. It trades key ferro-alloys and carbon products used in melt shops and casting lines. Meanwhile, its industrial handling role can support tighter delivery windows and quality consistency.

Closing terms and regulatory path will shape timing

Traxys plans to close the acquisition in the first quarter, subject to Swedish clearance. Authorities will review foreign direct investment and antitrust requirements. However, regulatory timelines can shift if reviewers request additional disclosures.

Spiltan Invest expects the sale to add about SKr170mn in liquidity. That figure strongly signals the transaction value. Therefore, the deal looks structured as a straightforward divestment for cash.

What this means for steel inputs, pricing, and resilience

Nordic steelmakers face rising pressure on raw material traceability and supply continuity. Carbomax’s product mix fits the needs of both steel plants and foundries. Meanwhile, briquettes and carbon products can support process stability and yield.

Traxys can use the platform to tighten customer coverage in Northern Europe. It can also link Nordic demand to broader procurement and logistics capabilities. As a result, the combined footprint may improve responsiveness during market tightness.

The Metalnomist Commentary

This acquisition looks like a “last-mile” strategy for a global trader. However, value will depend on how Traxys integrates customer service and risk controls. If it executes well, the platform can win share in specialized ferro-alloy flows.

Beneath the Growth: Ferro-Titanium(Fe-Ti) Market Enters Cooling Phase in 2025

Ferro-Titanium

Once a core beneficiary of aerospace and specialty steel demand, ferro-titanium now faces dual pressure from weakening demand and excess supply.

At the Foundation of Steel, Cracks Begin to Show

As of September 2025, leading market analysts still forecast a 4–5% annual growth rate for the ferro-titanium market, citing robust demand in aerospace, high-performance steels, and defense-grade alloys. But on the ground, reality paints a more sobering picture.

The global steel industry is struggling. A perfect storm of China’s low-cost exports, persistent weakness in downstream sectors, and U.S. tariff uncertainties has significantly dented confidence. Particularly hard hit are the automotive, shipbuilding, and plant engineering sectors, leading to a sharp decline in ferro-titanium consumption.

The result: a continued slide in spot prices, leaving suppliers grappling with margin pressure and inventory overhang.

Dual Shock: Demand Contraction Meets Supply Glut

Ferro-titanium is a specialty ferroalloy additive used in steelmaking to remove oxygen and nitrogen impurities, refine grain structure, and enhance both strength and corrosion resistance. It is indispensable in the production of titanium alloys for aerospace, stainless steels, and corrosion-resistant superalloys.

However, softening demand is now converging with a surge in cheap ilmenite and rutile feedstock imports, the ramp-up of new smelting capacity, and rising inventories, triggering a classic oversupply scenario. Some traders have resorted to panic selling, driving spot prices below long-term contract levels.

Not All Ferroalloys Are Created Equal

This downturn is not symptomatic of the entire ferroalloy market. While ferro-molybdenum (FeMo) prices are also under pressure due to steel sector weakness, the ferro-vanadium (FeV) market remains relatively buoyant—buoyed by growing demand for high-strength steel and new applications in energy storage technologies (e.g., vanadium redox flow batteries).

This divergence underscores a key truth:

Ferroalloy markets live or die by the uniqueness of their end-use demand.

Products that rely solely on steel cycles are inherently more volatile. In contrast, those with diverse, high-value downstream applications offer resilience—and in some cases, opportunity.

Long-Term Vision Intact, But Short-Term Survival Comes First

Industry experts agree:

"A meaningful rebound in ferro-titanium prices is unlikely until inventories normalize and downstream sectors recover."

Yet the long-term fundamentals remain intact. Demand from aerospace, defense-related high-performance steels, urban air mobility (UAM), and electric vehicles continues to build. Today’s correction may in fact be a strategic inflection point.

For producers with technological capabilities and diversified market access, this downturn could be a launchpad for future leadership. Moreover, as environmental regulations tighten, ferro-titanium producers with recycling-based production systems may gain a structural edge. In the long run, quality will matter more than quantity.

After all, ferro-titanium is essential for manufacturing materials that must not fail—only the strongest will do.

The Metalnomist Commentary

“This is not chaos. It is purification. Only the technologically armed will dominate the next cycle.”

The ferro-titanium market is undergoing a painful but necessary correction. But there is method in the madness. Suppliers rooted in high-value end markets, with a reputation for premium quality and the ability to serve global niches, will emerge as the next leaders.

This is a time for endurance. And in metals, quality is always the final destination.

South32 Gemco Manganese Operations Face Cyclone Narelle Supply Risk

South32, Gemco Manganese

South32 Gemco manganese operations are facing renewed weather-related disruption risk as Cyclone Narelle approaches Groote Eylandt in Australia’s Northern Territory. The company is moving non-essential personnel offsite while monitoring the incoming system with local emergency authorities.

The precautionary move comes as Cyclone Narelle is forecast to pass Groote Eylandt on Saturday afternoon. Australia’s Bureau of Meteorology expects the cyclone to reach category three strength by that time, bringing stronger wind and rain conditions to the island.

South32 Gemco manganese operations are important to the seaborne manganese ore market because Gemco is a major source of high-grade Australian ore. Any operational disruption could affect supply flows into China, where manganese ore demand is closely tied to steel and alloy production.

Groote Eylandt Weather Risk Returns After Cyclone Megan Disruption

Groote Eylandt has already shown how severe weather can affect manganese supply. South32 paused mining operations at Gemco for four months in March 2024 because of Cyclone Megan, and manganese exports from the site only resumed in May 2025.

That history makes the latest cyclone warning more significant for the market. Even if the current action is only precautionary, buyers and traders will watch closely for any damage to mining, haulage, port infrastructure, or export schedules.

South32 plans to produce 3.2 million tonnes of manganese at Gemco in July 2025-June 2026. Maintaining that output will be important for stabilizing supply after the previous weather-related disruption.

Manganese Ore Market Watches China Demand and Australian Supply

South32 Gemco manganese operations also sit at an important point in the pricing cycle. The company raised its March-delivery Australian 43pc lumpy manganese ore cif China price by $0.10/mtu to $5.20/mtu in late January, citing expectations for stronger Chinese demand after the lunar new year holidays.

Cyclone-related uncertainty could add another layer of support if the market sees a risk to Australian export availability. Manganese ore is essential for steelmaking through ferro-manganese and silico-manganese production, so supply interruptions can quickly influence alloy raw material sentiment.

For now, the key issue is whether Cyclone Narelle causes only a short safety response or a broader operational setback. The market will focus on site access, port conditions, and South32’s ability to maintain shipment schedules after the weather system passes.

The Metalnomist Commentary

South32’s latest move shows that manganese supply risk is increasingly shaped by weather resilience as much as mine capacity. For steel-linked raw materials, reliable logistics from vulnerable export hubs can become a pricing factor overnight.

South32 Manganese Ore Export Prices Fall as China Demand Weakens

South32 Manganese Ore

South32 manganese ore export prices to China have fallen for June shipments as weak alloy demand, ample port inventories and cautious buying pressure the import market. The Australian diversified metals producer lowered offers for both Australian and South African manganese ore, according to Chinese importers.

South32 manganese ore export prices for Australian 42% lumpy ore fell to $5.40/mtu cif China for June delivery. This was down by $0.50/mtu from May.

South32 also reduced its offer for South African 37% manganese ore to $5/mtu cif China. This was down by $0.40/mtu from the previous month.

South32 manganese ore export prices are an important signal for the wider manganese chain because China remains the largest global buyer of seaborne ore. When Chinese alloy plants slow purchases, overseas miners often need to adjust export offers to maintain sales momentum.

Chinese Alloy Weakness Cuts Restocking Appetite

Chinese importers have shown limited interest in restocking manganese ore because inventories remain sufficient and alloy prices are weakening. This has reduced spot buying urgency before the Labour Day holiday on 1-5 May.

Many alloy plants postponed ore feedstock purchases while waiting for clearer market direction after the holiday. This cautious behaviour has weakened the negotiating position of overseas ore suppliers.

The pressure is also visible in Chinese port prices. Australian 44-46% lumpy manganese ore fell to 43-47 yuan/mtu delivery ex quay on 28 April, down from 47-50 yuan/mtu on 31 March.

The decline shows that domestic buyers are not only resisting new import offers. They are also repricing available port material lower as downstream demand fails to improve.

Manganese ore demand is closely linked to ferro-manganese and silico-manganese production. These alloys are used in steelmaking, where manganese improves strength, deoxidation and performance.

When steel consumption slows, alloy plants reduce purchasing activity. This immediately affects ore demand because manganese alloy producers are the main consumers of imported ore.

Steel Demand Remains the Main Constraint

The deeper issue is weak steel demand in China. Slower economic growth and subdued construction activity have limited recovery in steel consumption, leaving alloy producers cautious about raw material buying.

Without a stronger steel recovery, manganese alloy prices are likely to remain under pressure. This limits the ability of alloy plants to pay higher ore prices, even when miners try to defend margins.

South32’s price cut also reflects wider seaborne competition. Mining firms outside China need to respond when Chinese buyers have enough stock and are unwilling to chase cargoes.

Australian high-grade lumpy ore usually commands stronger interest because of its quality and processing value. However, even higher-grade material can weaken when alloy margins are poor and port inventories are sufficient.

South African ore also remains exposed to Chinese demand swings. Lower-grade material can face sharper price pressure when buyers reduce procurement and focus only on immediate needs.

For the manganese market, the June price cut suggests that miners are prioritising volume discipline and customer access over holding elevated offers. The next price direction will depend on whether Chinese alloy plants return after the holiday with real restocking demand.

If steel demand remains weak, manganese ore prices could face further downside pressure. If alloy prices stabilise and inventories fall, importers may resume buying, but recovery is likely to be gradual.

The Metalnomist Commentary

South32’s price cut shows that the manganese market is being driven by demand absorption, not supply shortage. Until Chinese steel and alloy demand improves, seaborne manganese ore suppliers will remain exposed to cautious restocking and lower port prices.

ERG Kazakh Mining Investment Signals a Bigger Push Into Strategic Metals

ERG

ERG Kazakh mining investment marks a major expansion across mining, metals, and energy infrastructure. Eurasian Resources Group will invest $1bn in Kazakhstan operations. The plan covers new production facilities and plant upgrades. As a result, ERG Kazakh mining investment could deepen Kazakhstan’s role in strategic metals supply.

The investment stands out because it targets both existing strengths and new product categories. ERG already holds major positions in ferro-chrome, copper, cobalt, and aluminium. However, the new plan also includes gallium and hot briquetted iron. Therefore, the company is moving beyond scale toward broader industrial capability.

This strategy also aligns with Kazakhstan’s push for higher-value domestic processing. ERG is 40pc owned by the Kazakh government. That ownership gives the investment added policy importance. Meanwhile, the company is directing capital into assets that can reshape national metals capacity.

Kazakhstan Strategic Metals Strategy Expands Beyond Traditional Ferro-Alloys

Kazakhstan strategic metals development is becoming more diversified through this investment cycle. ERG plans to build production for materials not currently made in Kazakhstan. Gallium is the clearest example. Consequently, the project carries significance beyond normal mining expansion.

Gallium production Kazakhstan could gain new strategic relevance if the plan succeeds. ERG is targeting annual gallium capacity of 15t. That volume is modest in absolute terms. However, gallium matters because it supports semiconductors, electronics, and advanced industrial applications.

The broader programme also includes a new chromium mine and modernisation at Aksu Power Station. ERG will also build vertical calcination kilns and filtration units at Pavlodar Alumina Plant. These projects improve production depth rather than only adding raw tonnage. Therefore, the investment looks designed to strengthen industrial resilience.

Hot Briquetted Iron Kazakhstan Plan Adds Value to the Steel Chain

Hot briquetted iron Kazakhstan development is another important part of the package. ERG intends to advance an HBI plant and an iron ore pellet plant this year. HBI offers a cleaner and more tradable iron unit than many traditional forms. As a result, it could support both export competitiveness and lower-emission steelmaking options.

The company is also building an 80MW ferro-alloy gas utilisation power station at Aktobe. That project matters because power efficiency remains critical in ferro-alloy production. Improved energy integration can protect margins and reduce waste. Meanwhile, it can make domestic metallurgy more competitive.

ERG Kazakh mining investment therefore combines metals expansion with infrastructure reinforcement. It is not simply a capacity announcement. It is a portfolio redesign around strategic materials, processing value, and energy efficiency. That makes the programme more important than its headline number alone.

The Metalnomist Commentary

This investment shows Kazakhstan wants more than raw resource relevance. It wants stronger control over value-added metals and processing chains. If execution stays on track, ERG could become a more important strategic supplier across both traditional alloys and emerging critical materials.

US Steel Gary Tin Mill Restart Targets Domestic Tinplate Supply Security

US Steel

US Steel Gary Tin Mill production is set to restart in early 2027 as the integrated steel producer moves to rebuild domestic tin coated steel supply. The idled facility is part of US Steel’s wider Gary Works complex in Indiana.

The US Steel Gary Tin Mill has roughly 500,000 short tons of idled capacity across two production lines. The mill has been offline since 2022, but the company now plans to bring it back after maintenance, equipment inspection, material procurement and workforce preparation.

US Steel Gary Tin Mill restart costs are estimated at $15mn-20mn. The investment is relatively modest compared with a greenfield project, but the industrial significance is larger because tin coated steel has become a more sensitive domestic supply issue.

The restart comes as US customers seek more dependable local supply for packaging and industrial applications. It also reflects a wider shift toward trade protection, domestic manufacturing resilience and reduced exposure to imported coated steel products.

Trade Cases Support Domestic Tin Coated Steel Production

US Steel framed the restart as a response to domestic tin demand in a more protectionist trade environment. The company said customers are increasingly focused on long-term domestic supply security.

On 9 April, US Steel and the United Steelworkers union filed an antidumping duty case against China, Taiwan and Turkey. The case covers imports of tin and chromium coated sheet steel.

A separate countervailing duty case was also filed against subsidised tin coated steel products from China. These trade actions could support domestic producers if authorities determine that imports are unfairly priced or subsidised.

The timing is important. Restarting the Gary Tin Mill would give US Steel more capacity to serve customers if duties raise import costs or reduce import availability.

Tin coated steel is used in food and beverage packaging, aerosol products and oil filtration goods. These are not speculative markets. They are established industrial and consumer supply chains where reliability, quality and delivery timing matter.

The restart also gives US Steel a stronger position in value-added flat steel. Tinplate and coated sheet require specific finishing capability and customer qualification, making them more specialised than commodity hot-rolled or cold-rolled products.

Packaging and Industrial Buyers Seek Reliable Local Supply

The Gary Tin Mill restart reflects the growing importance of domestic supply in packaging materials. Food and beverage packaging depends on consistent access to tin coated steel, especially for cans and other shelf-stable products.

Aerosol products and oil filtration goods also rely on coated steel for corrosion resistance, formability and product protection. These applications require stable quality and predictable supply from qualified mills.

Domestic buyers have become more sensitive to import risk. Tariffs, antidumping cases, logistics disruption and geopolitical uncertainty can all affect material availability and pricing.

US Steel’s restart could help reduce that risk by returning idled capacity to the market. However, the impact will depend on how smoothly the company completes maintenance and prepares the required workforce.

The early 2027 timeline also matters. Buyers facing uncertainty in 2026 will not see immediate supply relief, but the restart could improve medium-term market confidence.

For the US steel industry, the project shows how idled finishing capacity can regain strategic value under trade protection. Instead of building new capacity from scratch, companies can reactivate existing assets when market conditions and policy support improve.

The broader message is clear. Domestic steel supply security is expanding beyond primary steelmaking. Coated, finished and application-specific steel products are also becoming part of the industrial resilience debate.

The Metalnomist Commentary

The US Steel Gary Tin Mill restart shows how trade protection can revive idled downstream steel capacity. The key question is whether domestic buyers will commit enough demand to support the restart beyond the current tariff and trade-case cycle.

Atlas completes EVRAZ North America acquisition

EVRAZ

Orion Steel launches as Atlas completes EVRAZ North America acquisition

Atlas completes EVRAZ North America acquisition and forms the Orion Steel Companies. The deal adds EAF and plate capacity across the US and Canada. Former US Steel executive Doug Matthews will lead the new platform.

Capacity footprint and strategic focus

Atlas completes EVRAZ North America acquisition, gaining 2.3mn st/yr steelmaking and 3.5mn st/yr finished capacity. The portfolio spans an EAF mill in Pueblo, a plate mill in Portland, and an EAF in Regina. Pipe facilities across Canada round out downstream exposure and logistics reach.

Atlas prioritizes EAF growth and scrap circularity to lift margins. Meanwhile, Orion Steel can leverage Atlas’ operations playbook for cost, reliability, and safety gains. Scrap sourcing and energy strategy will shape competitiveness against integrated mills.

Market implications for long products and energy pipe

The Pueblo EAF positions Orion Steel to serve rail, rebar, and structural demand. As a result, construction and infrastructure exposure provides a clear demand anchor. Portland plate can target shipbuilding, bridges, and heavy equipment sectors. Canadian pipe assets strengthen exposure to OCTG and line pipe cycles.

Leadership changes support execution as Atlas completes EVRAZ North America acquisition. Doug Matthews brings OEM-level rigor to scheduling, quality, and customer service. Therefore, Orion Steel can pursue multi-year offtake ties with service centers and EPCs.

The Metalnomist Commentary

This carve-out signals renewed private equity interest in North American EAF steel. Watch for capex in melt shops, plate modernization, and pipe finishing. Synergies will hinge on scrap procurement, energy hedging, and rail-served logistics.

Jindal Steel Angul capacity expansion reshapes India’s steel landscape

Jindal Steel

India’s latest Jindal Steel Angul capacity expansion signals a new phase in the country’s flat steel growth. The Jindal Steel Angul capacity expansion lifts the site’s output and pushes India further into a high-capacity cycle. As a result, the Jindal Steel Angul capacity expansion also raises questions about future domestic oversupply and export pressure.

Jindal Steel Angul capacity expansion lifts output toward 12mn t/yr

Jindal Steel has commissioned a new 3mn t/yr basic oxygen furnace at its Angul plant in Odisha. The BOF takes the site’s steelmaking capacity from 6mn t/yr to 9mn t/yr, with a target of 12mn t/yr in the 2025-26 fiscal year. The Jindal Steel Angul capacity expansion is anchored by a new 5mn t/yr blast furnace, started last week. Together, these assets support a broad product mix, including hot-rolled coil, galvanised steel, plate and rebar. This positions Angul as one of India’s key integrated hubs for flat and long products.

Indian steel capacity race intensifies across multiple producers

However, Jindal is not expanding alone, as rival Indian steelmakers also push new capacity. JSW Steel is enlarging its Vijayanagar facility in Karnataka, while Tata Steel brought a 5mn t/yr blast furnace online at Kalinganagar in 2024. These projects, combined with the Jindal Steel Angul capacity expansion, are driving a rapid rise in India’s crude steel potential. Domestic demand remains strong in construction, infrastructure and manufacturing, yet capacity growth is outpacing exports. Therefore, market participants are increasingly focused on how new tonnes will be absorbed if external demand falters.

CBAM and weak exports raise risk of domestic stock build-up

Meanwhile, looming changes under the EU’s carbon border adjustment mechanism are already dampening Indian steel export flows. Buyers in Europe are reassessing supply chains and potential carbon cost pass-throughs, which could limit future Indian shipments. As exports dwindle, the Jindal Steel Angul capacity expansion and parallel projects at JSW and Tata could contribute to inventory accumulation in the domestic market. A stock build-up would pressure prices and margins for Indian mills, especially in commoditised hot-rolled and rebar segments. As a result, strategic responses may include more value-added products, new export destinations and accelerated downstream integration.

The Metalnomist Commentary

India’s aggressive build-out, anchored by the Jindal Steel Angul capacity expansion, underlines its ambition to become a global steel powerhouse. Yet policy shifts such as CBAM mean that capacity alone is no longer enough; carbon cost, product mix and market access will decide who wins. For global buyers, India’s rising volumes may offer pricing opportunities, but also higher exposure to trade and climate-policy risk.