[ EUROFER Warns EU Carbon Costs Could Hit €8.2 Billion Annually ]

Global crude steel production in August 2026 decreased by 1.2% year-on-year to 144.2 million tonnes, bringing the January-August total down 0.7% to 1.22 billion tonnes. India recorded a strong 4.6% increase to 14.8 million tonnes and the US saw a 3.0% rise to 7.3 million tonnes, offsetting declines in other regions. In contrast, output from the EU-27 dropped 1.0% to 8.9 million tonnes, while South America experienced a 4.9% decline led by lower Brazilian production.

Japan's crude steel output rose by 0.4% year-on-year in August 2026 to reach 6.66 million metric tons, although this represented a 3.9% month-on-month contraction. Domestic pig iron production simultaneously increased by 1.5% year-on-year to 5.07 million tonnes. Despite the slight annual gain in August, Japan's cumulative crude steel output for the first eight months of 2026 stood at 53.99 million tonnes, maintaining a marginal 0.2% deficit compared to the same period last year.

The European Commission has proposed prohibiting major importers India, Pakistan, and Bangladesh from procuring ferrous scrap from the EU starting May 21, 2027. Under the draft Waste Shipment Regulation, these nations were excluded from the authorized non-OECD import list due to insufficient regulatory frameworks for sustainable pollution controls and metallurgical treatment. The regulatory shift directly threatens millions of tonnes in annual seaborne scrap trade, heavily impacting feedstocks for South Asian electric arc furnaces.