[SMM Iron & Steel] Kazakhstan Coal Transshipment via Russian Ports Surges 60.2% in Q1 2026

JSW Steel and South Korea’s POSCO have finalized a landmark joint venture to construct a 6 million tonnes per annum (MTPA) integrated steel plant in Odisha, India. The greenfield project will focus on producing high-end flat products for the automotive and renewable energy sectors. The facility is expected to be fully operational by late 2028, leveraging POSCO’s advanced steelmaking technology and JSW’s domestic logistical network.

The UK’s Trade Remedies Authority (TRA) officially proposed new anti-dumping duties on rolled steel originating from South Korea on April 24, 2026. The move follows an investigation into unfairly priced imports that threaten domestic manufacturers during their transition from traditional blast furnaces to Electric Arc Furnaces (EAF). This proposal aligns with the UK's broader strategy to protect its local supply chain against global market imbalances. The new duty rate proposed fall around 5.98% to 24.28%

Germany's crude steel production increased by 7.5% year-on-year in March 2026 to 3.35 million metric tons (mt), bringing the Q1 2026 output to 9.26 million mt, up 9% year-on-year. Despite the increase, the German Steel Federation (WV Stahl) warned this does not reflect a true recovery but rather inventory restocking. Current annualized output levels of approximately 37 million mt remain below the 40 million mt capacity threshold required for sustainable capacity utilization. Structural demand weakness continues, with steel consumption down by 30% (12 million mt) since 2017 amid underperforming mechanical and automotive sectors.