[SMM Steel] Iranian steel exports continue despite Hormuz logistics disruptions

[SMM Steel] Vietnam’s Vnsteel has inaugurated a new warehouse in Khanh Hoa province as part of its strategy to strengthen nationwide logistics and distribution capabilities. The facility marks the company’s return to the South-Central Vietnam market and is expected to improve supply services for local distributors and construction projects. Vnsteel said the warehouse will also function as a regional logistics hub to enhance customer support, shorten delivery times, and strengthen its competitiveness in Vietnam’s steel market.

[SMM Steel] Vietnam’s Hoa Sen Group stated that the alleged 56.21% dumping margin in Australia’s galvanized steel investigation is only an initial claim submitted by petitioner BlueScope Steel and not an official finding by Australian authorities. The AD probe was officially launched on April 30, with Hoa Sen and Nam Kim named in the case. Australia is expected to release its statement of essential facts by August 18 and final findings by October 2, 2026. Hoa Sen noted that in a previous Australian AD case in 2015, the company ultimately received a 0% duty rate despite an initial dumping allegation of 16.26%.

[SMM Steel] India’s finished steel imports surged 31% YoY to 679,000 mt in April, fueled by high domestic prices that created a profitable arbitrage gap for foreign suppliers. This growth was further bolstered by a slight reduction in safeguard duties and the cost-effectiveness of FTA-origin materials, such as duty-exempt Japanese steel. Additionally, logistical disruptions in the Middle East caused Asian shipments to be diverted to Indian ports, while imports from a key South Korean mill rose by over 30% month-on-month. However, the outlook remains uncertain, as the approaching June monsoon season may dampen domestic demand and weaken prices, potentially narrowing the current window for profitable importing.