[SMM Steel] Italy’s April Steel Output Rises, Long Products Continue Strong Growth

[SMM Steel] Asian HRC prices remained largely stable despite weaker Chinese macroeconomic data and lower iron ore prices. Market sentiment stayed cautious as weak domestic demand in China pressured spot sales and buyers adopted a wait-and-see approach. Chinese mills were reluctant to release new offers amid uncertain price trends. Meanwhile, Europe has largely suspended imported HRC purchases ahead of new safeguard measures effective July 1 and the upcoming summer holiday season.

[SMM Steel] Ukraine’s steel industry warned that the EU’s planned steel safeguard revisions could significantly reduce the country’s export revenues and damage its wartime economy. Under the new measures effective from July 1, the EU plans to cut steel import quotas by 47% and impose a 50% tariff on out-of-quota volumes. Ukrainian steelmakers said the restrictions could sharply limit access to their largest export market, as Ukraine exported around 2.65 million mt of steel to the EU last year. Industry sources estimated the proposed quota reductions could cut export volumes by around 70% and result in up to €1 billion in lost export revenues.

[SMM Steel] The European Parliament approved new steel safeguard measures effective from July 1, pending final approval by EU member states. The new regime sets a 18.3 million mt annual steel tariff-rate quota with a 50% out-of-quota duty covering 30 steel product categories and country-specific quotas. EU officials said the measures will apply equally to all third countries, including Ukraine and FTA partners. Some lawmakers supported stricter import controls to protect the EU steel industry, while others warned that high energy costs, decarbonization policies, and EU ETS-related costs continue to pressure European steelmakers.