[SMM Steel] European Carbon Prices Rise Toward €79/t Amid ETS Reform Discussions

[SMM Steel] Japan exported 2.35 million mt of ferrous scrap in January-April 2026, down 9.9% year on year, while April exports fell 10.1% YoY to 667,678 mt. Vietnam remained the largest importer of Japanese scrap during the period, importing 1.02 million mt, down 10.1% YoY. Bangladesh imported 516,219 mt, up 22.3%, while South Korea imported 350,019 mt, down 17.9% YoY. Meanwhile, Japanese scrap exports to Thailand more than doubled to 173,869 mt during the four-month period.

[SMM Steel] India’s JSW Steel has commenced construction of a 13.2 million mt per year greenfield steel plant in Paradip, Odisha, with total investment estimated at 6.8 billion USD. The project, spread across 2,950 acres, is JSW Steel’s largest capital expenditure project to date and will be implemented in phases. Market participants noted the coastal location is expected to strengthen raw material access, logistics efficiency, and export competitiveness through improved port connectivity.

[SMM Steel] German plant maker SMS Group completed the modernization of CELSA Barcelona’s medium section mill at its Castellbisbal site in Spain. The upgrade included replacing one of the 25-year-old CCS® mill stands and installing advanced electrical and automation systems to improve rolling force and operational efficiency. SMS said hot commissioning finished two days ahead of schedule, with regular production resuming immediately after a successful 700 mt rolling campaign. The mill’s annual capacity has increased from 500,000 mt initially to around 1 million mt following multiple upgrades, supporting higher-quality long steel production for the construction sector.