[SMM Iron & Steel] Russian Coal Exports to Turkey Decline 31% in Early 2026

Today, the most-traded hot-rolled coil (HRC) contract showed an N-shaped pattern, closing at 3,394 at the end of the session, largely flat MoM. HRC spot prices were stable with a slight upward probe. In terms of supply, a steel mill in North China started new maintenance, leading to a slight narrowing of short-term supply. Demand side, market transactions were lackluster, with some markets maintaining weekend high prices, limiting demand release. Cost side, the current situation outside China remained uncertain, and cost support was relatively neutral. Looking ahead, sheets & plates are in a pattern of strong supply-demand dynamics in the short term. Current export order-taking performance was moderate, and support for finished steel products still existed. Regarding.....

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%