Data: SHFE, DCE market movement (Jun 09)

【SMM Steel】Taiwan's China Steel Corporation is preparing to sue Indonesian hot-rolled coil exporters for dumping, as Indonesian HRC orders to Taiwan exceeded 5000 tonnes in June alone surpassing all of last year's volume. CSC called the move "pure hostility" and said it has evidence for a trade lawsuit. Meanwhile Taiwan also faces separate AD allegations from Japan over hot-rolled steel filed by Nippon Steel and others. Japan launched AD probes on June 1 covering HR and CR flat steel from China South Korea and Taiwan. Estimated dumping margins for Taiwan HRC 3-20% and CRC 2-15%. Taiwan's industry is split between counter-retaliation and negotiated settlement.

【SMM Steel】WV Stahl has welcomed the EU's upcoming strengthened steel safeguard mechanism. The new framework establishes country- and product-specific tariff-rate quotas with imports exceeding allocated volumes facing a 50% duty. The federation said the new system’s flexibility and anti-circumvention rules will address import pressure from global overcapacity. It also called for closing CBAM gaps creating lead markets for EU-produced low-emission steel and ensuring competitive energy prices for energy-intensive industries.

【SMM Steel】Worthington Steel Inc. has completed its acquisition of Kloeckner & Co SE after satisfying all closing conditions. The company now holds approximately 62% of Kloeckner's outstanding shares. The transaction is expected to broaden Worthington's product portfolio and expand its geographic footprint. To consolidate ownership Worthington plans to launch a delisting tender offer proposing 11.00 EUR per share in cash to remaining shareholders. The delisting will reduce regulatory obligations associated with public listing. Following delisting Kloeckner shares will no longer trade on regulated German markets which may result in significantly reduced liquidity and limited price discovery.