[SMM Iron & Steel] Port Hedland April 2026 Iron Ore Shipments Stable at 46.28 Million MT; Dampier Surges 19%

【SMM Steel】India's JSW Steel Limited plans to merge its subsidiary BMM Ispat Limited to boost operational synergies and expand its long product portfolio, as announced in a May 15 regulatory filing. The integration will leverage BMM Ispat's expansion-ready land in Karnataka to achieve cost efficiencies and significant operational synergies. JSW Steel can achieve faster capacity growth at lower costs through this merger compared to building new facilities from scratch. The move will also strengthen its long products portfolio by adding rebar and billets, enhancing its market positioning.

【SMM Steel】The EC has released draft implementing rules for deducting carbon prices paid in third countries from CBAM certificate obligations. Companies seeking to offset carbon taxes, fees, or trading costs must meet strict conditions: carbon costs must be directly linked to product emissions, exclude subsidies or rebates, and be backed by verifiable and traceable data. The regulation is a key supporting rule for CBAM's operational phase.

【SMM Steel】GEM's annual report shows that India accounts for over 60% of new BF steel capacity worldwide, with a total of 319 mln tonnes per year announced or under construction globally. India and China together account for 86% of new coal-based steel projects. An additional 80 mln tonnes of BF capacity are slated for modernization, while official closure plans cover only 141 mln tonnes, potentially leading to a net increase of 88 mln tonnes by 2035. ~93% of India's new pig iron capacity is BF-based, but only 5% of planned BF capacity has reached the construction stage. EAF share of global steel production is 34%, while only 2% of DRI capacity uses green hydrogen.