JPM Steel | Daily Despatch: Asian spreads -1%; Micron sees memory shortage lasting beyond CY27; ABI weakens in May

Research evidence excerpt

JPM Steel | Daily Despatch: Asian spreads -1%; Micron sees memory shortage lasting beyond CY27; ABI weakens in May

o catch up with increasing demand.” Source: Bloomberg Finance L.P.

• U.S. Steel to inject $475M into Fairfield Tubular ops: U.S. Steel announced a fresh ~$475m investment for its Fairfield

Tubular Operations in Alabama. The investment will install a new quench-and-tempering line at the 750,000st/year facility.

The Q&T line is expected to reach full production by the second quarter of 2029. The increased internal capacity will support

growing demand from existing and new customers alike, the company said. Source: SMU

• HARDI: Galvanized market finds strong prices, consistent demand: During the monthly HARDI sheet metal and air-

handling call on Tuesday, participants described conditions consistent with the previous month’s call, in which they reported

dwindling product availability, increasing demand, logistics headaches, and escalating prices. During the June 23 call,

participants said shipping and logistics remain problematic. Source: SMU

• BHP trims July discount for iron ore products to Chinese steel mills: Australian iron ore miner BHP has narrowed

discounts for its July term contracts with Chinese steel mills across its flagship medium-grade fines products, after finalising

negotiations with China Mineral Resources Group in late April, according to contract customers and sources familiar with the

matter June 24. Source: Platts

• Global DRI output down 17.5% in May 2026: Global DRI production in the 12 countries accounting for ~85% of total

world DRI production in 2025 amounted to 9.75 million mt in May, up 9.8% MoM but down by 17.5% YoY. Meanwhile,

world DRI output came to 47.12 million mt in the first 5 months of this year, down by 8.7% vs. the pcp.