Motorcycle Production and Sales Rise Slightly in China in 2024, with Electric Motorcycles Declining

[SMM Steel] India’s JSW Steel reported crude steel production of 2.37 million tonnes in February 2026, down 2% YoY from 2.41 mt, mainly due to the shutdown of Blast Furnace 3 at the Vijayanagar plant for capacity upgrades since September 2025. Excluding this unit, production increased around 8% YoY, supported by operations at JSW Vijayanagar Metallics Limited. India operations produced 2.31 mt, down 1% YoY, with capacity utilization at 97% excluding BF3 (88% including BF3). Meanwhile, US output fell 20% YoY to 60,000 tonnes, impacted by caster upgrades and severe winter weather affecting operations in Ohio.

In the short term, overseas geopolitical conflict headlines continued, increasing uncertainty in energy-sector price fluctuations, while domestic macro conditions still had expectations for policy tailwinds. Back to steel fundamentals, as downstream procurement demand release remained relatively cautious and the destocking inflection-point cycle had not yet emerged, finished steel lacked strong drivers. Steel prices are expected to fluctuate within a range in the short term, tracking cost trends. After the Two Sessions conclude in mid-to-late month, if demand still fails to drive a rapid drawdown in inventory, steel prices face the risk of a pressured pullback.