5.22 SMM Global Steel Daily Report

The "CCTV Finance Excavator Index," jointly developed by CCTV Finance, Sany Heavy Industry, and TreeLab Technology, released its latest data. In April, construction machinery saw increases in both volume and operating rates, with all three major sectors — port logistics, heavy lifting, and civil construction — recovering across the board as peak-season construction demand was concentrated and released. In April, the average operating rate of construction machinery nationwide was 45.09%, up 3.6 percentage points MoM, and the workload growth rate of trackable samples was 12.55% MoM. The top ten provinces ranked by comprehensive operating rate were: Anhui, Beijing, Ningxia, Zhejiang, Liaoning, Hainan, Hebei, Jiangxi, Gansu, and Xinjiang.

In Q1 2026, POSCO Holdings Group recorded revenue of 17.9 trillion won, up 1,035 billion won QoQ; gross profit was 15.2 trillion won, up 488 billion won QoQ; gross profit margin rose 2.4 percentage points QoQ to 8.5%; selling, general and administrative expenses were 810 billion won, down 206 billion won QoQ; operating profit was 707 billion won, up significantly by 694 billion won QoQ, with profitability improving substantially; operating profit margin rose 3.9 percentage points QoQ to 4.0%; pre-tax profit was 757 billion won, achieving a turnaround from loss to profit; net profit was 543 billion won, up 854 billion won QoQ; net profit attributable to the parent company was 467 billion won.

[SMM Steel] The US Department of Commerce finalized its antidumping administrative review on corrosion-resistant steel products from Taiwan covering July 2023-June 2024. Sheng Yu Steel and Prosperity Tieh Enterprise received final dumping margins of 0.00%, while Great Grandeul Steel Company Limited (Samoa) was assigned a weighted-average dumping margin of 0.99%. The USDOC maintained nearly all calculations from the preliminary findings, with only a minor spelling correction made to Prosperity’s corporate name.