[ European Union Imposes Safeguard Minimum Prices and Quotas on Imported GOES ]

[India Domestic] Domestic steel prices up amid tight supply while scrap prices remained mostly flat in major cities. Heavy rainfall and the impact of Cyclone Arnab have caused waterlogging and traffic disruptions in Raipur and nearby areas, affecting normal operations and movement. Some steel factories have had to stop production temporarily for a day, tightening local supply. Raipur Rebar up 2 USD/tonne (200 INR/tonne) to 528 USD/tonne (50,600 INR/tonne) EXW Raipur. Rebar flat at 537 USD/tonne (51,500 INR/tonne) EXW Mumbai. Mandi ingot up 2 USD/tonne (200 INR/tonne) to 489 USD/tonne (46,700 INR/tonne) EXW Mandi. Offers were around 488-490 USD/tonne (46,800-47,000 INR/tonne) and few deals concluded at current level, heard from market sources. HMS 1&2 (80:20) unchanged 394 USD/tonne (37,800 INR/tonne) delivered Mandi. Durgapur billet up 2 USD/tonne (200 INR/tonne) to 455 USD/tonne (43,600 INR/tonne) delivered Durgapur. Sponge iron PDRI rose 4 USD/tonne (400 INR/tonne) to 294 USD/tonne (28,200 INR/tonne) EXW Raipur.

The U.S. Department of Commerce announced its final affirmative determination in the countervailing duty (CVD) investigation of carbon and alloy steel wire rod from Algeria on September 15, 2026, with the order becoming applicable September 18. Since no comments were submitted on the earlier preliminary determination, Commerce adopted its preliminary findings for the final decision, which had set a subsidy rate of 73.33% for SPA Algerian Qatar Steel and all other Algerian producers and exporters. Because the U.S. Trade Representative has determined Algeria is not a "Subsidies Agreement country," no material injury determination from the U.S. International Trade Commission is required for this CVD case.

Australia's Queensland government has granted elevated "Prescribed Project" status to three proposed steel and recycling developments totaling over A$1.9 billion, facilitating coordination of approvals and infrastructure to strengthen domestic steel supply. Equest Steel plans to invest A$1.05 billion in the Alter Steel Mill, a scrap-based steel recycling and manufacturing facility on a 23-hectare site at Pinkenba, while Future Forgeworks' A$640 million Swanbank Steel Mill is intended to supply reinforcing steel locally from 2028. Sims is also proposing an approximately A$215 million staged redevelopment of its existing Pinkenba waterfront site into an integrated metal recycling, processing and logistics hub. Together, the projects are expected to support more than 2,000 construction jobs and over 550 operational positions, while reducing reliance on steel supplied from interstate and overseas.