Data: SHFE, DCE market movement (May 25)

[SMM Steel] The UK is seeking exemptions from the EU’s upcoming steel import restrictions as London and Brussels continue post-Brexit trade negotiations. The EU plans to reduce tariff-free steel quotas and raise out-of-quota tariffs to 50%, while the UK is also preparing similar measures, including a 60% reduction in tariff-free quotas and 50% tariffs above quota limits. UK Trade Minister Chris Bryant said restrictive measures between the UK and EU would be counterproductive, arguing that global overcapacity, particularly from China, remains the core issue affecting European steel markets.

Indian steelmakers have faced ongoing difficulties in procuring metallurgical coke since the country introduced import restrictions, with major producers such as JSW Steel and ArcelorMittal Nippon Steel India also raising concerns. Data showed India’s metallurgical coke imports fell 21% year on year in 2025 to 3.81 million tons, with supplies mainly coming from China, Indonesia, Poland, Japan, and Switzerland.

India’s Ministry of Steel said state-owned steelmaker RINL was unable to secure sufficient volumes of low-ash metallurgical coke at acceptable domestic prices, causing production costs to rise by about 20%. The ministry said inadequate coke supply is hurting RINL’s operational viability and competitiveness at a time when the company is undergoing financial restructuring with government support.