Shagang Industrial Wire Rod Price Adjustment Information on April 11

[SMM Steel] The US Department of Commerce upheld anti-dumping duties on prestressed concrete steel wire strand imports from Brazil, India, Mexico, South Korea and Thailand following a sunset review. Final dumping margins were set at 118.75% (Brazil), 102.07% (India), 77.20% (Mexico), 54.19% (South Korea) and 12.91% (Thailand). With no substantive responses from exporters, duties will remain in place, continuing to restrict imports and support US domestic producers in the short term.

[SMM Steel] The European Union is considering raising out-of-quota steel tariffs to 50% while cutting duty-free quotas to 18.3 million mt, with potential implementation from July 1, 2026. In the short term, this may reduce export volumes and increase costs for Vietnamese shipments, as the EU accounts for over 20% of Vietnam’s steel exports (~$1.4 billion in 2025). The tighter regime is likely to weaken competitiveness and force exporters to redirect cargoes to other markets.

[SMM Steel] Vietnam’s construction steel prices remained stable at 14,700–15,430 VND/kg on April 13, with Hoa Phat Group holding CB240 and D10 CB300 at 15,430 VND/kg, while other mills maintained unchanged offers. Trading remained cautious with balanced supply-demand. Meanwhile, rebar futures in Shanghai fell 0.5% to 3,055 yuan/t, reflecting weaker demand expectations. Iron ore showed mixed trends, with Dalian prices steady at 776 yuan/t and Singapore prices slightly up to $104/t. In the short term, stable domestic prices contrast with softer regional sentiment, indicating cautious buying and limited upside momentum.