SMM Steel] EU sets CBAM certificate price at €75.36/t CO₂ for Q1 2026

[SMM Steel] MMK Metalurji, a subsidiary of Magnitogorsk Iron and Steel Works, has suspended production at facilities in Kocaeli and Iskenderun following worker strikes over delayed wage payments. Employees halted operations after agreed salary increases were not reflected in payrolls. Negotiations are ongoing, with the disruption potentially impacting Turkey’s flat steel supply.

[SMM Steel] Price increases by Hoa Phat Group and Formosa Ha Tinh Steel, alongside Vietnam’s 27.83% anti-circumvention duty on Chinese HRC, have supported regional sentiment. Meanwhile, Section 232 of the Trade Expansion Act tariff adjustment reduced duties on derivative products to 25%, while core tariffs remained 50%. Combined with China’s capacity control policies and higher raw material costs linked to Middle East tensions, supply is tightening, leading market participants to expect a gradually improving steel market outlook.

[SMM Steel] The initial rollout of the Carbon Border Adjustment Mechanism has already impacted Ukraine’s steel sector, with producers losing over 1.1 million mt of export orders in Q1 2026. Companies including Metinvest, ArcelorMittal Kryvyi Rih, and Interpipe reported order cancellations, higher compliance costs, and operational challenges. Additional CBAM-related costs and technical barriers are tightening access to the EU market, raising concerns over export competitiveness.