[News Flash] Tata Motors Boosts Vehicle Recycling Capacity

Today, the DCE iron ore futures trended higher today. DCE’s most-traded I2609 contract closed at 706 yuan/mt, up 0.93% from the previous trading session. Spot prices at Qingdao Port rose 3–8 yuan/mt from the prior trading day. Traders quoted actively, while steel mills purchased as needed, leaving overall spot trading moderate.

Thai Nguyen authorities have called on businesses and investors to prioritize domestically produced steel when products meet requirements on quality, delivery time and cost. On July 31, Thai Nguyen Iron and Steel Joint Stock Company signed cooperation agreements with 14 businesses and investors, covering an expected 168,000 mt of steel consumption for projects and construction works in the province. The company committed to competitive pricing, flexible cooperation and enhanced technical and after-sales support. The move is expected to expand market demand for domestic steel, strengthen links between steelmakers and construction companies, and support production growth and the local economy.

The European Commission has launched a consultation on expanding the scope of its 2026 Steel Regulation, which cuts duty-free steel import quotas to 18.3 million mt/year, nearly 47% below 2024 levels, and raises the out-of-quota tariff to 50%. The regulation also introduces “melt and pour” traceability, requiring importers to identify where steel was originally melted and cast. The consultation considers adding four product groups, including stainless steel wire, steel wire, cast iron pipes and forged steel bars, and will remain open until September 30, 2026. The new rules could pose challenges for Vietnamese exporters using imported billets or hot-rolled steel, as products may be counted under the raw material’s country of origin rather than Vietnam. Vietnam’s steel exports to the EU already fell 18.3% in volume and 23.3% in value year on year in the first five months of 2026. Exporters, particularly those in stainless steel wire and steel pipes, are advised to closely monitor the consultation and engage with EU importers and industry associations.