[SMM Iron & Steel] India's RINL Halts Steel Melt Shop After Deadly Explosion

On June 11, Shagang issued its EXW price for early June, with rebar and wire rod prices remaining stable. Current rebar price is 3400, coiled rebar price is 3530. All prices are tax-inclusive, effective from June 11, 2026. [SMM Steel]

【SMM Steel】Atlas Tube, a Zekelman company, has agreed to form a joint venture with Maruichi USA combining their North American steel tube operations under Atlas Tube’s management. The JV is expected to be finalized in late June 2026. Zekelman has 17 manufacturing locations across North America with over 3200 employees and 3.3 million tonnes of annual capacity. Maruichi USA operates six facilities across the US and Mexico serving automotive construction and infrastructure sectors. Maruichi Leavitt Pipe & Tube has over 65 years of manufacturing history producing ASTM A500 A513 A53 and JIS G3445 specifications.

【SMM Steel】On June 9 2026, Vallourec and Ultra Corpotech Pvt Ltd signed a Memorandum of Understanding to deploy VAM threading capabilities near Mumbai, India. A dedicated threading cell is scheduled for implementation in late 2026 with commissioning in early 2027, aiming to provide premium thread protection and related services for the Indian oilfield services sector. The asset-light cooperation allows both parties to respond quickly to regional demand with minimal capital footprint. Vallourec will license its VAM threading and inspection technology along with quality control system support. The agreement reflects a strategic shift for Vallourec as the company expands access to its premium connection technology through local partners in Asia, following similar agreements with Vietnam Process Equipment and Technology Joint Stock Company in March 2025 and Saudi Arabia's Industrial Investment Company in November 2025.