【SMM Steel】JSW Steel plans to merge with BMM Ispat

Data from the National Bureau of Statistics (NBS) showed that in April 2026, China's crude steel production was 83.63 million mt, down 2.8% YoY; pig iron production was 70.69 million mt, down 3.6% YoY; steel production was 122.63 million mt, down 1.7% YoY. From January to April, China's crude steel production was 331.12 million mt, down 4.1% YoY; pig iron production was 282.28 million mt, down 3.1% YoY; steel production was 471.94 million mt, down 1.3% YoY.

According to the latest data from the General Administration of Customs, in April 2026, China exported 5.46 million mt of steel sheets & plates, down 17.5% YoY; cumulative exports from January to April totaled 20.06 million mt, down 16.6% YoY. In April, China exported 1.81 million mt of steel bars, up 14.3% YoY; cumulative exports from January to April totaled 6.05 million mt, up 5.9% YoY. In April, China exported 640,000 mt of angle steel and sections, up 7.1% YoY; cumulative exports from January to April totaled 2.55 million mt, up 14.9% YoY.

【SMM Steel】India's JSW Steel reported consolidated crude steel production of 2.118 million tonnes in April, down 1% from 2.14 million tonnes a year earlier. Indian operations contributed 2.04 million tonnes, down 1% y-o-y, while its Ohio facility in the US produced 78,000 tonnes, down 7% y-o-y. The decline was primarily due to the shutdown of Blast Furnace 3 at Vijayanagar for a capacity upgrade, which is expected to restart in Q4 2026. Excluding BF3 from last year's base, production growth was approximately 10%.