European Commission approves Tenaris' acquisition of Artrom Steel Tubes

As of October 16, the latest SMM data shows that total iron ore inventory across 35 main ports in China stood at 148.3 million mt, up 2.85 million mt MoM, with overall inventory trending higher. Daily average port pick-up volume edged down 50,000 mt to 3.185 million mt.

Mycron Steel Bhd (KL:MYCRON) has withdrawn its judicial review of Malaysia's decision to remove anti-dumping duties on certain steel imports. It said the discontinuance followed a 'constructive discussion' with authorities rather than any court ruling, with no adverse determination on the merits; the High Court approved the withdrawal on Sept 21, paperwork completed Oct 6. The duties, scrapped on June 26, 2023 by the Ministry of International Trade and Industry and the Finance Ministry, covered cold-rolled coils of iron or non-alloy steel, 700mm-1,300mm wide, from South Korea and Vietnam. Mycron and CSC Steel Holdings Bhd won leave for separate reviews on Dec 4, 2023; CSC Steel has given no update. Shares rose 0.5 sen to 21 sen, valuing the group at 68.7 million ringgit (16 million USD).

Britain will enforce a new steel safeguard regime from 1 July 2026, cutting tariff-free import quotas by 60% and charging a 50% duty on above-quota shipments. India is seeking product-specific carve-outs for MSME-linked steel lines with heavy UK exposure: hot-rolled sheets and strips, stainless steel bars and light sections, stainless steel wire rod, merchant bars, gas pipes and other welded pipes, roughly six categories in all, two of which involve relatively high MSME participation. New Delhi says it will not let as many as 88 steel lines be swept into the new regime without relief, treating steel as part of the wider trade package. The standoff has delayed rollout of the FTA signed in July 2025. India's iron and steel exports to the UK reached 566.69 million USD in FY26, up from 526.96 million USD in FY25 and 383.82 million USD in FY24.