[SMM Stainless Steel Flash] EU Stainless Slab Imports Bypass Tariffs; ArcelorMittal Ends Duisburg Steelmaking

Spain's Club de Exportadores e Inversores Españoles published a technical note calling for the suspension of EU ETS and CBAM and alignment of carbon prices with levels faced by competitors. The report identifies ETS and CBAM together as acting like an "internal tariff" on European production, with costs passed through electricity, steel, and aluminum prices to downstream processors, while offering no protection to European exporters in third-country markets. For the stainless steel industry, the impact is particularly pronounced: the EU's 50% out-of-quota steel tariff combined with halved quotas has added approximately €1,654 to the average vehicle's steel costs, while hot-rolled coil prices have risen more than 35% since October 2025, far exceeding the Commission's own impact assessment assumption of a 3.25% increase. With CBAM set to expand to 150–180 additional CN codes, compliance cost pressures on the stainless steel supply chain will intensify further, disproportionately burdening small and mid-sized processors and distributors while large steel producers buffer the impact with decades of accumulated free ETS allowances.

Ukrainian seamless stainless steel tube producer Centravis has received two orders totalling 50 mt for Motor Oil Hellas' refinery in Greece, with products to be used directly in refinery operations. The customer placed a second order shortly after the first delivery, signalling potential for further cooperation. Motor Oil Hellas is one of southeastern Europe's leading energy and refining companies, with its Corinth refinery forming Greece's largest privately owned industrial complex and regarded as one of Europe's most modern refineries. Centravis Sales Director Artem Atanasov noted that the refining industry demands particularly high standards of tube quality, steel grades, and technical compliance, describing the project as an important European market reference, with the repeat order reflecting strong customer confidence.

India's Jindal Stainless (JSL) announced on September 7 the signing of an agreement with Japan's JFE Steel to strengthen its manufacturing capabilities for select ferritic stainless steel grades. Under the pact, JFE Steel will leverage its decades of ferritic stainless steel expertise to support JSL in improving product quality and manufacturing practices for the specified grades. Ferritic stainless steel is widely used in automotive components, railway coaches, kitchen equipment, industrial machinery, and construction — making it an important high-value growth segment. JSL Managing Director Abhyuday Jindal said the partnership aims to build capabilities that create greater value for customers by strengthening people, processes, and practices. The agreement comes as global stainless steel demand continues to rise across automotive, infrastructure, railways, and process industries.