Tata Steel Achieves $1.13 Billion in Cost Savings for Fiscal Year

Stronger HRC realizations and a higher share of value-added steel helped Jindal Steel offset lower sequential production and rising raw material costs in Q1FY27. As India's steel demand continues to outpace global markets, the company's earnings outlook will depend on capacity ramp-up, domestic steel prices, coking coal costs and import competition.

During the survey period (July 21–July 27), rebar supply in Central China was stable, while both the operating rate and capacity utilization rate of wire rod declined.

The US has proposed that Mexico impose import tariffs on steel and aluminum from countries outside North America, following the model of US Section 232, in a bid to restrict imports from China and build a common external tariff wall protecting preferential trade terms among the US, Mexico, and Canada. Mexico has expressed willingness to consider the proposal as part of negotiations to review the USMCA trade agreement, though specific tariff rates and product lists remain under discussion, with the US hoping to reach a framework agreement by the end of this year. Currently, the US imposes a 50% tariff on crude steel/aluminum from China and most other countries, while Mexico applies tariffs by product category, up to 25% for countries without an FTA; Mexico had previously offered to significantly cut its imports of Chinese steel to facilitate the talks. The third round of negotiations was recently held in Mexico City, attended by USTR Jamison Greer and Mexican Economy Minister Marcelo Ebrard, with the next round expected in Washington in September. Meanwhile, Mexico is also seeking to have US Section 232 tariffs on its own exports, currently 50% on steel/aluminum and 25% on autos, lifted as part of the same USMCA review.