4.29 SMM Global Steel Daily Report

Published: Apr 29, 2026 19:10

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SMM News Flash: [India] Indian HRC export offers to the EU were stable at about 705 USD/tonne CFR, but trading activity was muted due to weak demand and cautious buyer sentiment. No new deals were concluded as buyers remained concerned over upcoming EU safeguard adjustments from July 2026, including tighter quotas and potential 50% out-of-quota tariffs, along with additional CBAM-related costs.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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