SMM Weekly Iron Ore Outlook: Shipments Stay Low, Prices Likely to Remain Under Pressure

[SMM Steel] The US Department of Commerce finalized its antidumping administrative review on corrosion-resistant steel products from Taiwan covering July 2023-June 2024. Sheng Yu Steel and Prosperity Tieh Enterprise received final dumping margins of 0.00%, while Great Grandeul Steel Company Limited (Samoa) was assigned a weighted-average dumping margin of 0.99%. The USDOC maintained nearly all calculations from the preliminary findings, with only a minor spelling correction made to Prosperity’s corporate name.

[SMM Steel] Global crude steel production declined 1.9% y-o-y to 153.4 million mt in April 2026, while January-April output fell 2.0% y-o-y to 613.3 million mt, according to worldsteel data. China’s April crude steel output dropped 2.8% y-o-y to 83.6 million mt, while India, South Korea, and the US recorded growth of 3.9%, 4.8%, and 9.4% respectively. EU-27 output declined 1.8% y-o-y to 11.0 million mt, while CIS production fell sharply by 13.4% y-o-y. Market participants said global steel production remains under pressure from weak demand and ongoing regional trade and geopolitical uncertainties.

[SMM Steel] Germany’s crude steel production increased by 9.5% y-o-y to 3.23 million mt in April 2026, although output declined 3.3% m-o-m, according to WV Stahl. BOF steel production rose 10.7% y-o-y to 2.22 million mt, while EAF output increased 7.1% y-o-y to 1.01 million mt. January-April crude steel production reached 12.49 million mt, up 9.1% y-o-y. Market participants said the data reflected a gradual recovery in German steel production, although overall demand and capacity utilization remained below sustainable levels.