[SMM Steel] Australia reviews AD case on galvanized steel from Vietnam, South Korea

Stegra (formerly H2 Green Steel) announced on April 14, 2026, that it has reached a principal agreement for a €1.4 billion ($1.65 billion) financing round led by a Wallenberg Investments consortium. The funding ensures the continuation of construction for the world’s first large-scale green steel plant in Boden, Sweden, which utilizes green hydrogen instead of coking coal. While the original late-2025 deadline has passed, the new capital allows for a ramp-up of construction activities, with the project aiming to reduce CO₂ emissions by up to 95% compared to traditional blast furnace production.

The European Commission has introduced new TARIC sub-codes to prevent the "misuse" of steel safeguard quotas for rebars and merchant bars. Effective mid-April, these administrative changes ensure that specific origins do not exceed their allocated tariff-rate quotas (TRQ) through product reclassification, shielding EU long-product manufacturers.

The UK government has released its draft framework for the Carbon Border Adjustment Mechanism (CBAM), detailing how emissions for imported steel must be verified. The rules require importers to provide site-specific data starting in 2027, increasing the administrative burden on non-EU/UK exporters of hot-rolled and cold-rolled products.