Steel Industry
Stegra faces financial crisis and seeks more support
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The Swedish steel company Stegra, building a fossil-free plant in Boden, struggles with delays and cost overruns and now seeks ten billion kronor in new funding. Pension funds like the AP funds have invested hundreds of millions via Al Gore's climate fund, while state support is debated politically. A potential bankruptcy would hit Boden hard but minimally affect pension savers.
HSBC has started coverage on JSW Steel and Jindal Stainless with Buy ratings. The bank expects a multi-year demand upcycle driven by infrastructure and urbanization. It also reaffirmed a Buy rating on Tata Steel.
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In the ongoing bankruptcy of Altos Hornos de México (AHMSA) and MINOSA, Judge Ruth Haggi Huerta García approved a 30-day deferral of the asset auction to mid-February 2026. Trustee Víctor Manuel Aguilera Gómez requested the extension to resolve labor credit queries with Profedet, vital for over 11,000 workers awaiting indemnities amid debts over 61 billion pesos.