[SMM Iron & Steel] India: NMDC Iron Ore Production Rises 16% Year-on-Year in April

[SMM Steel] ArcelorMittal reported better-than-expected Q1 earnings, supported by stronger steel prices in North America. However, its European and mining segments remained under pressure amid weak demand and ongoing market uncertainty. The results highlight a diverging global steel market, where regional price strength contrasts with persistent challenges in Europe, including import pressure, high costs, and soft consumption.

Some limited imports of Russian-origin steel products, notably slab, will continue until 30 September 2028 under transitional arrangements laid down in existing EU restrictive measures, Despite requests from some European re-rollers for extensions, the EU's 20th sanctions package tightens the net, forcing mills to accelerate sourcing from Brazil, India, and other ex-China origins to secure long-term supply.

Passenger car registrations in the EU increased by 4% in the first quarter of 2026, with a significant 12.5% jump in March alone. This recovery in the automotive sector is a critical demand driver for flat steel products (HRC/CRC), providing much-needed support for European steelmakers facing high operational costs.