[SMM Data] Breakdown of Iron Ore Inventory Across China's 10 Major Ports on July 3

India's automobile retail market recorded strong growth in June 2026, with overall auto sales rising by 22% and passenger vehicle (PV) retail sales specifically totaling 410,843 units, marking a significant increase of 28.63%. This robust rise in automobile retail sales reflects resilient consumer demand and a highly active automotive sector in the Indian market. The continued surge in domestic vehicle manufacturing and sales will directly translate to higher downstream consumption for flat steel products (such as cold-rolled and galvanized coils), subsequently supporting regional steel capacity utilization and tightening local steel inventory levels.

Metinvest is seeking a new financial or industrial partner for its €3.2 billion green steel mill project in Piombino, Italy, developed by its joint venture Metinvest Adria, to reduce financial exposure and improve bankability amid the ongoing conflict in Ukraine. The electric arc furnace (EAF) facility is designed to have an annual production capacity of over 2.7 million metric tons of hot rolled coils (HRC). The project has already secured significant institutional backing, including €285 million in incentives from Invitalia and an additional €92 million from the Italian Ministry of Enterprises for port infrastructure. The potential entry of a new investor is intended to strengthen the project's risk profile, ensuring the successful execution of one of Europe's largest low-emission steel production facilities without altering the original industrial scope.

Thailand's Committee of Dumping and Subsidy has officially extended the antidumping (AD) duties on certain high carbon alloy steel wire rod imports from China for an additional five-year period. The products will remain subject to AD duties ranging from 12.26% to 36.79%, though imports for export-oriented manufacturing and bonded warehouses remain exempt. The 5-year extension of these steep duties will continue to restrict the volume of Chinese wire rod entering the Thai market, tightening regional supply for non-exempt sectors while protecting Thailand's domestic industry from price undercutting and stabilizing the local market balance.