[SMM Iron & Steel] Premium US Deep-Sea Ferrous Scrap Export Benchmarks Suffer $14/t Drop to Turkey

[HRC] Today's HRC export price fell $1/mt day-on-day, with transaction prices at $493-502/mt. Futures were weak, and prices in some overseas markets were also low, leaving inquiries and trading activity moderate.

【SMM Steel】The British Chamber of Commerce has warned that new steel import quotas effective July 1 will severely impact SMEs in steel-consuming sectors. The UK's annual steel demand is ~10.3m tonnes, while domestic production covers only ~2.6m tonnes. William Bain, BCC Head of Trade Policy, said companies face millions in losses once quotas are exhausted, with some considering relocation to the EU. The BCC urges the government to scale back quota cuts, phase in the 50% tariff, and extend transitional arrangements.

【SMM Steel】On June 18, the Industrial Evolution forum at Bila Tserkva Industrial Park gathered over 1,800 attendees to discuss Ukraine's manufacturing revival. Economy Minister Oleksiy Sobolev stated that war has reshaped state policy, making industrial policy part of national security. Ukraine's strategic goal is to raise manufacturing's GDP share from 8.8% to 20%. About 40 industrial parks are now active nationwide with nearly 45 billion UAH (1 billion USD) in investment. In 2025, manufacturing became Ukraine's largest taxpayer, providing 18% of consolidated budget revenues, 70 billion UAH more than before. The forum identified financing shortages, labor gaps, and productivity as key bottlenecks.