[SMM Stainless Steel Flash] UK/EU Steel Prices Surge Amid Tariffs; India Grants Relief to SMEs

Published: May 4, 2026 11:34

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The UK plans to impose 50% steel tariffs and a 60% quota cut starting July 2026, potentially driving prices above €1,000/ton, causing the highest in Europe. Similarly, EU steel prices have risen 20% since October 2025, with a 34% total surge expected by mid-2026 due to new safeguards and CBAM. In stark contrast, the Indian Ministry of Steel issued a decree on April 27, 2026, exempting MSMEs from QCO compliance for specific stainless steel imports until October 2026. While Europe faces criticism for strangling its manufacturing backbone with bureaucracy and duties, India is moving to de-bureaucratize and support its smaller industrial players.

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