[CISA: August Monthly Report on Major Steel-Using Industries]

CBAM has applied to EU steel imports since January 2026, and the first annual bill, covering this year's imports, falls due on 30 Sept 2027. At the Q3 2026 certificate price of EUR 82.32, Indian HRC carries a CBAM cost of about EUR 278/tonne, Chinese EUR 179 and Japanese EUR 80. The gap comes from origin-specific default values and the production route assigns to each origin. SMM's Steel CBAM Calculator is now live, you can calculate the number of certificates required per tonne and total cost.

Under the combined effects of the "Shanghai Eight Measures" policy and the detailed rules for commercial housing sales reform, Shanghai's property market carried the recovery momentum from the "September peak season" into the National Day holiday. According to data from the China Index Academy, in September, Shanghai's new commodity residential housing transactions reached 1.179 million m², up 22.1% YoY. The second-hand housing market remained active during the same period, with a cumulative total of 23,581 online contracts signed for second-hand homes (including commercial properties) that month, up 15.7% YoY, hitting a new high for the same period in nearly six years. Since March this year, Shanghai's second-hand home trading volume has held above 23,000 units for the seventh consecutive month, with the market recovery momentum clearly visible. This heat also carried into the National Day holiday. According to statistics from Shanghai Centaline Property, during this year's National Day holiday (October 1–7), Shanghai's new commodity residential housing transaction area reached 34,600 m², doubling from the 17,300 m² recorded during last year's holiday period (October 1–8).

The latest monthly summary data from ChinaIOL shows that in August 2026, the home appliance and refrigeration & HVAC industry chain overall exhibited a trend of "domestic demand under pressure, divergent exports." Air source heat pump and gas wall-hung boiler exports surged 58.4% and 64.5% YoY respectively, while dishwasher and range hood exports posted double-digit growth. In the supply chain market, air conditioner motor and scroll compressor exports grew strongly, while rotary compressor and valve domestic sales were under pressure. Refrigerant HFC-R32 production fell sharply YoY, while HFC-134a surged.