Domestic Large Steel Mills' Guiding Prices for Various Series on March 13 [SMM Steel Mill Guiding Prices]

The United Kingdom government officially launched a new national Steel Strategy on March 19, 2026, aimed at domesticating 50% of the nation's steel consumption, up from the current 30%. As part of this robust trade defense, the UK will reduce tariff-free import quotas by 60% effective July 1, 2026, while raising the maximum Most Favored Nation (MFN) tariff to 50% for imports exceeding these limits. This move is designed to shield the domestic industry—currently transitioning from traditional blast furnaces to electric arc furnaces (EAF)—from global overcapacity and extreme subsidies.

Italy’s crude steel production increased by 8.1% month-on-month in February 2026, signaling a recovery in Southern European industrial activity. This rebound follows a period of stabilization and reflects improved demand from domestic manufacturing and construction sectors as energy price volatility subsides. The increase in output from Italian mills contributes to a moderately positive outlook for non-Chinese steel demand in 2026, which is projected to grow as interest rates decline and borrowing costs for major infrastructure projects soften globally.

JSW Steel reported a 2% year-on-year decline in consolidated crude steel production for February 2026, totaling 2.366 million tonnes. The decrease is primarily attributed to the ongoing temporary shutdown of Blast Furnace 3 at its Vijayanagar facility, which has been offline for capacity modernization since late 2025. Despite the impact of the maintenance work, the company's Indian operations achieved a high capacity utilization rate of 97% when excluding the affected furnace, demonstrating strong underlying operational performance.