[SMM Stainless Steel Flash] Indian Steelmakers Call for Controls on Chinese Stainless Steel Imports

The EU's new steel quota system has plunged European ports and customs offices into crisis since taking effect July 1. All new quotas were blocked for 14 days without explanation, EU customs authorities cannot determine real-time quota availability, and the system's status data for July 7 is entirely missing. At least 25 quota categories are set to overflow, with some already overbooked fourfold. All shipments currently in clearance are subject to guarantees equivalent to the potential 50% duty, creating acute liquidity pressure for SMEs, while physical inspections are adding waiting times of up to three weeks for goods already at quayside. Critics place the blame squarely on the Commission for publishing quota details just one day before entry into force, failing to prepare customs infrastructure, and neglecting daily quota updates. Separately, Article 4(2) of the quota regulation — which overrides Union Customs Code origin rules without an apparent legal mandate — is seen as contradicting Article 4(1) and potentially vulnerable to legal challenge.

Canada Nickel Company and RWE Supply & Trading (RWEST) signed a memorandum of understanding on June 1, 2026, to commercialize low-carbon intermediate stainless and alloy steel products. The partnership utilizes materials from the Crawford Nickel Project through Canada Nickel's wholly-owned subsidiary Net Zero Metals, leveraging Ontario's renewable energy infrastructure to navigate rising EU CBAM compliance costs. Canada Nickel gains access to RWEST's American and European customer networks, trading capabilities, and CBAM expertise. The parties plan to identify target customers, develop sales strategies for semi-finished steel, alloys, and stainless products, and secure export credit agency financing, with a definitive contract targeted before year-end.

In H1 2026, the nickel salt (nickel sulphate) market experienced wild swings of "two rallies and two pullbacks," with price movements dominated by a pattern of cost support and demand-side drive.