[SMM Stainless Steel Flash] Taiwan (PoC)'s Yusco & Tang Eng Report Stable Cumulative Revenue Growth Through August

According to SMM market research, a steel mill in southern China concluded a high-grade nickel pig iron deal today at 1,050 yuan/mtu on a delivered basis. The cargo has nickel content above 11%, with a transaction volume of 7,000 mt and delivery scheduled for November.

Following the publication of detailed product-level allocations under the India-EU FTA, concerns have emerged that key steel quota allocations are below India's current entitlements under the EU's new steel import regime. While the FTA provides a total country-specific quota of 1.64 million mt, a product-by-product comparison reveals shortfalls: CRC quotas under the FTA stand at 218,658mt versus 269,974mt in June 2026; stainless bars and light sections at 79,278mt versus 92,556mt; and seamless stainless tubes and pipes at 13,140mt versus 15,328mt. The total FTA allocation is approximately 300,000mt below India's current entitlements. According to Reuters, the Indian steel industry is seeking 29–35% higher quotas across product categories and has submitted a note to India's trade ministry stating that "India's total guaranteed country-specific quota under the agreement is smaller than its current total entitlement, putting the country in an unfavorable position with regard to market access."

The European Commission has initiated an expiry review of anti-dumping duties on cold-rolled stainless steel sheets and coils from India and Indonesia, following a request submitted by EUROFER on June 29, 2026, on the grounds that expiry of the measures would likely result in the continuation or recurrence of dumping and injury to the EU industry. The review covers the period July 1, 2025 to June 30, 2026, and must be completed within 12 months. Current AD duty rates stand at 10.0% and 35.3% for India, and 9.3%, 19.3%, and 20.2% for Indonesia. Products under review fall under CN codes 7219 31–7219 35, 7219 90, 7220 20, and 7220 90 series.