[Baosteel Wide and Heavy Plate Production Line Completes "Core Replacement"]

On May 31, 2026, Zenith Steel released its pricing policy for the first ten days of June. I. Supplementary price adjustment for the third ten days of May: 1. Wire rod: 125 2. Rebar: 165 II. Provisional prices for the first ten days of June: 1. Wire rod: 3,650 2. Rebar: 3,450 III. The benchmark discount rate for acceptance bills was adjusted to 0.8‰ [SMM Steel]

Vietnam News Agency reported on May 25 that the World Steel Association (Worldsteel) recently released the list of the world's top 10 crude steel producing countries, with Vietnam making the list for the first time. Specifically, the World Steel Association estimated that Vietnam's crude steel (steel billet) production reached 2.1 million mt in April 2026, up 4% YoY. With this production volume, Vietnam surpassed Italy and entered the global top 10 steel producing countries for the first time. In the first four months of this year, Vietnam's cumulative crude steel production reached 8.5 million mt, up 8.4% YoY. According to information released by the Vietnam Steel Association, Vietnam's steel industry has achieved leapfrog development in both production scale and product variety.

Mexico is formally seeking the removal of US Section 232 tariffs on steel and aluminum — currently set at 50% — as part of ongoing USMCA review negotiations. Mexico's Economy Minister Marcelo Ebrard described the 50% rate as unacceptable and without justification, following May 27-29 talks between Mexico's Ministry of Economy and the US Trade Representative. Mexico is also advocating for a regional approach to the automotive sector, citing deep North American production integration and existing USMCA rules of origin. Additional rounds of negotiations are scheduled for June and July. Separately, Mexico has already mandated that federal construction projects use only domestically produced steel.