Data: SHFE, DCE market movement (Apr 08)

[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.

[SMM Steel] The US Department of Commerce ruled that POSCO and POSCO International Corporation did not dump carbon and alloy steel wire rods in the US during May 2023–April 2024, revising the preliminary 0.51% margin to 0%. As a result, US Customs and Border Protection will liquidate relevant imports without anti-dumping duties, with instructions to be issued after 35 days. The ruling covers hot-rolled carbon and alloy steel wire rods under multiple HTSUS codes.