Algoma Steel started steel production using its new EDP, Jindal Stainless was looking for a site for its new INR400m plant, and anti-dumping duties on imports of cold-rolled flat products from the EU were proposed this month.
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These three industry developments are detailed in the August issue of the monthly Steelmaking Capacity report prepared by MEPS below. The updated information on global steel market activity, researched by MEPs, was compiled based on materials originally published in the latest issues of the European Steel Report, International Steel Report, and Stainless Steel Report.
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East Asia,
Nippon Steel,
Nippon Steel has raised its profit forecasts for fiscal year 2026-27, boosted by the profitability of its U.
S. steel subsidiary. Profit
Revenue from the business increased 58.1% year-on-year to 145.5 billion yen in the three months ended June 30. US Steel's revenue was 32 billion. Yen, while revenue from Nippon Steel's operations in Japan decreased by 94 billion. Yen increased year-on-year to 47.1 billion yen. Consolidated crude steel production
Increased by 50.7% to 14.26 million. Tons as a result of the acquisition of US Steel.
Nippon Steel has raised its annual profit forecast by 18.9% to 630 billion yen. The profit forecast for the U.
S. steel business has been raised by 80 billion yen to at least 180 billion yen, helped by higher U.
S. steel prices.
The company also confirmed that the six million tons per year hot-rolled strip production plant in Nagoya, Japan, commissioned in April, has already started commercial production.
Steel for SAILS and Krakatoa
The Steel Authority of India Ltd (SAIL) and Indonesia's Krakatau Steel plan to invest up to 350 million US dollars in the construction of a new stainless steel slab production plant in Indonesia.
The projected plant will have an annual capacity of 500,000 tons and will be able to start production within three to four years. The companies signed a preliminary agreement to establish a joint venture in July 2026. It is expected that
SAIL will use all the plant's products for rolling and finishing at the Salem plant in Tamil Nadu, India. The finished products will be supplied mainly to the Indian market, and some materials may be exported to Europe and the Middle East.
The technical team is expected to prepare