EU Probes MMG’s Purchase of Anglo American’s Ferronickel Assets: Possible Impact on Stainless Steel Costs

The European Commission has opened an in-depth investigation into MMG’s proposed acquisition of Anglo American’s ferronickel assets in Brazil. The deal covers two producing ferronickel mines and two additional Brazil-based projects. Anglo American announced in February it planned to sell these assets to MMG for up to US$500 million.
 

Why the EU Is Concerned

Ferronickel is a key alloying input for stainless steel. The Commission said the transaction could reduce ferronickel supplies to European steelmakers, potentially raising stainless steel production costs in the EU. MMG has offered commitments, but Brussels deemed them insufficient, triggering a Phase II review with a deadline of March 20, 2026 for a decision.
 

Company Responses and Strategy

Anglo American says it does not expect competition issues in Europe and will cooperate with regulators. The London- and Johannesburg-listed miner is mid-transition, exiting several businesses (met coal, South African platinum, diamonds) to focus on copper, high-grade iron ore, and fertilizers—and has explored large-scale sector combinations to reinforce that pivot.

What It Could Mean for Stainless Buyers

If approved without strong remedies, EU buyers could face tighter ferronickel availability and higher input costs, which may support stainless steel prices. Robust remedies—or a blocked deal—could temper those pressures. Buyers should monitor the review, check contract coverage for nickel units, and diversify sources where sensible.
 

How YES Stainless International Supports EU Supply

To help European buyers manage supply risk, YES Stainless International exports stainless steel from Taiwan with full compliance to EU trade rules—providing alternative, policy-stable sourcing outside origins facing frequent trade actions. We supply ASTM/EN-compliant coils, sheets, tubes, pipes, and fittings with traceable documentation (ISO 9001, EN 10204 3.1, REACH) and can support CBAM reporting where required.
 

 

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