Iowa passes tax incentives for steel mill

Spanish Market: Metals
05/10/26

Iowa has amended its economic development program to provide tax incentives for Minnesota-based iron ore miner Mesabi Metallics to build a $15bn steel mill, the governor's office said last week.

The program, called the Major Economic Growth Attraction, was designed to help the state compete for $1bn-plus developments.

The original tax scheme created incentives of up to 5pc each for two eligible businesses a parent company planned to start, but the new language passed into law late last week now allows incentives of up to 10pc for a single qualifying investment if it is in a rural county. The incentives under the law are spread out evenly over 10 years and are transferable.

Mesabi Metallics' proposed 10mn short tons (st)/yr electric arc furnace qualifies qualifies for the higher incentives under the new law because it will be built in a rural part of southeastern Iowa.

US commerce secretary Howard Lutnick previously said Mesabi Metallics' investment was not dependent on local tax breaks at a 28 September White House press conference touting the plan. Iowa state house speaker Pat Grassley said any incentives for the mill construction will not be granted until the facility is actually operational.

The mill is slated for completion by 2030 and will rely on iron ore from the company's mine in Nashwauk, Minnesota.

By Aaron May

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06/10/26

US sets AD margins for 2 Turkish rebar firms

Houston, 6 October (Argus) — The US Department of Commerce has preliminarily applied a 13.11pc antidumping (AD) duty margin for Turkish rebar producers Colakoglu and Ekinciler following its review of imports in the year through June 2025. Commerce individually examined Colakoglu and assigned the same AD margin to Ekinciler, which was not individually reviewed. Commerce also rescinded the review for Turkish producers Habas, Icdas and Kaptan after finding no reviewable suspended entries during the review period. The preliminary margin is below the 18.87pc AD duty assigned to Colakoglu in the final results of a previous review covering July 2023 through June 2024. Turkish rebar exporters without company-specific rates are currently subject to a 3.9pc AD rate that was established in a January 2022 amended final determination. By Matt Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

SA Recycling to vacate Long Beach iron ore dock

05/10/26

SA Recycling to vacate Long Beach iron ore dock

Pittsburgh, 5 October (Argus) — US metals recycler SA Recycling plans to vacate its iron ore export dock at the Port of Long Beach in southern California. SA Recycling has proposed demolishing the iron ore marine terminal over a seven-month period and exiting the 19-acre facility, according to a 1 October notice by the Port of Long Beach. The company began exporting iron ore mined in the western US to Asia in bulk cargoes from the port in 2013. SA Recycling shipped 2.5mn short tons (st) of iron ore from October 2020 to June 2022, according to a port statement — that translates to about 119,000 st/month during that period. The port will accept public comments on SA Recycling's plan to demolish the facility to restore it to its pre-lease condition until 30 October. SA Recycling did not reply to requests for comment on its iron ore export business. The company operates a separate scrap metal export dock at the Port of Long Beach that will continue operating. By James Marshall Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Milan court rules against second ADI appeal

05/10/26

Milan court rules against second ADI appeal

London, 5 October (Argus) — A second attempt by Italian steelmaker Acciaierie d'Italia's (ADI) to temporarily suspend a court order issued in July that called for the closure of the plant's hot-end has been rejected by Milan's court of appeals. The original order gave the steelmaker 90 days to shut down its hot-end, triggering a first appeal to grant a suspension of the order, which was swiftly rejected . The second appeal argued that shutting down the hot-end could irreversibly damage the facilities and compromise any future restart, citing a technical assessment that it could cost around €830mn to restore the hot-end after shutdown. ADI proposed keeping the installations in pre-heating mode, rather than fully switching them off. The court rejected these arguments — it said the potential economic and industrial damage was secondary to the right to health of citizens. Production at the hot-end was already in the process of being suspended by late September, the court document said. ADI said the irreversible deterioration it had warned of had not yet occurred. The next key date for the future of the plant is 20 October, when Italy's Court of Cassation will consider another legal challenge filed by ADI. By Carlo Da Cas Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

EU steel safeguard quotas

05/10/26

EU steel safeguard quotas

London, 5 October (Argus) — The latest EU steel safeguard quotas, as of 2 October 2026. EU flat steel quotas balance t Product Allocation by country Quota volume* % of quota filled Balance of quota left Pending customs clearing Hot-rolled sheet and strip Turkey 160,574 0% 160,574 378,823 Japan 137,885 0% 137,885 0 India 149,319 0% 149,319 102,977 Taiwan 69,731 0% 69,731 0 Ukraine 120,882 0% 120,882 185 South Korea 115,458 0% 115,458 3,624 Vietnam 103,743 0% 103,743 55,408 Egypt 101,232 0% 101,232 4,885 Serbia 64,524 0% 64,524 476 FTA quota - CSQ 120,921 0% 120,921 0 Brazil 42,513 0% 42,513 20 United Kingdom 38,481 0% 38,481 24 Indonesia 31,834 0% 31,834 6,052 Australia 11,830 0% 11,830 14,802 Saudi Arabia 9,545 0% 9,545 0 Switzerland 5,473 0% 5,473 1 Kazakhstan 2,378 95% 127 139 North Macedonia 3,532 0% 3,532 53 Other countries 5,564 0% 5,564 12,090 FTA Quota – Other countries 4,272 0% 4,272 1,985 Cold-rolled sheet Taiwan 33,587 0% 33,587 0 India 67,494 0% 67,494 3,055 South Korea 63,653 0% 63,653 7,225 Turkey 60,153 0% 60,153 12,958 United Kingdom 19,835 0% 19,835 102 Japan 29,458 0% 29,458 0 Ukraine 26,549 0% 26,549 545 FTA quota - CSQ 33,671 0% 33,671 0 Other countries 24,934 0% 24,934 53,968 FTA Quota – Other countries 21,284 0% 21,284 8,086 Egypt 1,295 0% 1,295 0 Switzerland 746 0% 746 0 Brazil 3,534 0% 3,534 0 Galvanised coils - 4A Vietnam 117,497 0% 117,497 8,065 Taiwan 33,783 0% 33,783 37,589 Turkey 63,925 0% 63,925 96,084 India 58,296 0% 58,296 5,695 South Korea 26,120 0% 26,120 4,501 FTA quota - CSQ 38,881 0% 38,881 0 Other countries 33,339 0% 33,339 67,582 FTA Quota – Other countries 12,761 0% 12,761 5,832 United Kingdom 11,600 0% 11,600 189 Japan 2,874 0% 2,874 5,602 Egypt 2,944 0% 2,944 652 South Africa 3,150 0% 3,150 3,120 Galvanised coils - 4B South Korea 110,699 0% 110,699 16,921 China 45,749 0% 45,749 111,257 United Kingdom 34,302 0% 34,302 140 Turkey 26,020 0% 26,020 26,577 India 25,511 0% 25,511 13,449 FTA quota - CSQ 19,514 0% 19,514 0 Other countries 23,175 0% 23,175 15,485 FTA Quota – Other countries 22,585 0% 22,585 10,331 Egypt 1,879 0% 1,879 20 Switzerland 314 0% 314 194 Plate South Korea 79,918 0% 79,918 9,404 Indonesia 53,153 0% 53,153 4,489 India 52,710 0% 52,710 64,454 Japan 23,294 0% 23,294 12,208 North Macedonia 20,672 0% 20,672 4,393 United Kingdom 8,285 0% 8,285 797 FTA quota - CSQ 22,682 0% 22,682 0 Other countries 18,830 0% 18,830 27,801 FTA Quota – Other countries 7,415 0% 7,415 0 Turkey 7,008 0% 7,008 15,475 United Kingdom 5,260 0% 5,260 0 Slab † Russia 2,998,324 12% 2,623,534 249,937 † Sanctions quota for period EU long steel quotas balance t Product Allocation by country Quota volume* % of quota filled Balance of quota left Pending customs clearing Merchant bar China 39,484 0% 39,484 33,622 Turkey 60,496 0% 60,496 4,977 United Kingdom 26,098 0% 26,098 156 Switzerland 24,360 0% 24,360 285 South Korea 14,043 0% 14,043 525 North Macedonia 13,618 0% 13,618 91 FTA quota - CSQ 14,063 0% 14,063 0 Other countries 11,810 0% 11,810 2,759 FTA Quota – Other countries 10,863 0% 10,863 33 Brazil 3,046 0% 3,046 0 Egypt 2,553 0% 2,553 2,474 Rebar Turkey 59,919 0% 59,919 78,088 Egypt 36,092 0% 36,092 3,001 Algeria 15,940 0% 15,940 11,454 Moldova 9,930 0% 9,930 0 China 5,054 0% 5,054 12 Ukraine 16,928 0% 16,928 655 FTA quota - CSQ 39,701 0% 39,701 0 Other countries 15,831 0% 15,831 29 FTA Quota – Other countries 9,575 0% 9,575 0 United Kingdom 2,162 0% 2,162 0 Wire rod Turkey 61,147 0% 61,147 70,699 Malaysia 21,671 0% 21,671 0 United Kingdom 43,850 0% 43,850 993 Ukraine 47,286 0% 47,286 2,103 Switzerland 40,549 0% 40,549 3,729 Vietnam 24,272 0% 24,272 0 Moldova 23,960 0% 23,960 109 Egypt 21,679 0% 21,679 9,692 FTA quota - CSQ 30,720 0% 30,720 0 Other countries 38,482 0% 38,482 98 FTA Quota – Other countries 34,610 0% 34,610 0 South Korea 2,834 0% 2,834 0 Japan 1,324 0% 1,324 9 Sections Turkey 13,456 0% 13,456 9,865 United Kingdom 5,964 0% 5,964 20 Switzerland 2,591 0% 2,591 6 United Arab Emirates 1,491 0% 1,491 21 FTA quota - CSQ 3,032 0% 3,032 0 Other countries 3,154 0% 3,154 24 FTA Quota – Other countries 1,074 0% 1,074 4 South Korea 1,252 0% 1,252 0 United Kingdom 14,139 0% 14,139 0 Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Nucor raises US HRC price for 11th week

05/10/26

Nucor raises US HRC price for 11th week

Houston, 5 October (Argus) — US steelmaker Nucor raised its US hot-rolled coil (HRC) spot price by $10/short ton (st) today, extending its run of weekly price increases to 11 consecutive weeks. Nucor's price increase sets its US HRC prices at $1,230/st for all producing mills, except for its California Steel Industries price, which was raised to $1,290/st. Argus' spot HRC price was most recently assessed at $1,261.75/st during the week of 21-25 September. Spot availability remains limited as many US HRC mills continue to reject spot bids from its customers. Nucor's publicly stated lead times for spot orders remain between three to five weeks, while Argus assessed US HRC lead times at 7.6 weeks for 21-25 September, up from 7.1 weeks in the previous week. US service centers continue to struggle to secure HRC from domestic mills due to mill production issues, resulting in tight inventories. By Matt Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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