[SMM Steel] India turns net steel exporter in FY2026, but outlook clouded by EU barriers and geopolitics

[SMM Steel] Hoa Phat Group aims to raise its steel pipe market share to 38–40%, up from around 35% currently, following the commissioning of its Long An plant (400,000 mt/year), lifting total capacity to 1.2 mln mt/year. Q1 2026 pipe sales rose 30% YoY to 241,000 mt, significantly outpacing industry growth (+7%), while market share increased by 5 percentage points YoY. The company plans to focus on large-diameter pipes for infrastructure projects, targeting less competitive segments. Expansion will depend on actual construction demand, while competition is intensifying as peers such as Nam Kim Steel also ramp up capacity.

[SMM Steel] Canada’s Canadian International Trade Tribunal has initiated an expiry review of anti-dumping duties on rebar imports from Algeria, Egypt, Indonesia, Italy, Malaysia, Singapore, and Vietnam. The review will assess whether removing existing measures could lead to continued or renewed dumping. Previous margins ranged from 3.3% to 23.1% (Vietnam at 10.5%). The Canada Border Services Agency is expected to issue its final determination by September 17, 2026, with a detailed statement to follow in October.

[SMM Steel] Japan has approved a circular economy strategy aimed at strengthening domestic supply of recycled metals and reducing reliance on imported raw materials. In the steel sector, the plan targets an increase of around 2 million mt/year in processing capacity for high-quality scrap used in low-emission “green steel” production. The move comes amid tightening global scrap supply and rising competition among major economies to secure both primary and secondary raw materials.