The Indian Ministry of Steel reaffirmed in late April 2026 its goal to reach 300 million metric tons of crude steel capacity by 2030, rising from the current 168 million tons. Approximately 64% of this planned expansion relies on the coal-based blast furnace method, creating significant demand for metallurgical coal. To support this growth, India is diversifying its coking coal imports, with the U.S. share of imports increasing to 15% by 2025, reducing reliance on Australian supply which previously commanded 72% of the market.

[SMM Steel] Morocco has notified the World Trade Organization of its plan to extend safeguard measures on hot-rolled steel imports for another three years (Jun 2026–Jun 2029), maintaining an additional 19% tariff. The move aims to protect domestic producers from rising import pressure. The extension could weigh on Vietnamese steel exports, requiring exporters to reassess pricing strategies, cost structures, and market positioning. Industry authorities advise firms to diversify export markets and closely monitor trade remedy developments to mitigate risks.

On April 27, 2026, the European Union finalized the details of a new steel protection regulation scheduled to take effect on July 1, 2026, replacing the previous safeguard measures. The new regulation sets a total annual tariff-rate quota of approximately 18.35 million metric tonnes. Crucially, imports exceeding these quotas will now face a 50% punitive tariff (up from the previous 25% safeguard duty), reflecting a significantly more aggressive stance against global overcapacity. The EU also reaffirmed its commitment to fully phase out remaining Russian steel imports, particularly slabs, by September 30, 2028.

The UK plans to impose 50% steel tariffs and a 60% quota cut starting July 2026, potentially driving prices above €1,000/ton, causing the highest in Europe. Similarly, EU steel prices have risen 20% since October 2025, with a 34% total surge expected by mid-2026 due to new safeguards and CBAM. In stark contrast, the Indian Ministry of Steel issued a decree on April 27, 2026, exempting MSMEs from QCO compliance for specific stainless steel imports until October 2026. While Europe faces criticism for strangling its manufacturing backbone with bureaucracy and duties, India is moving to de-bureaucratize and support its smaller industrial players.

Amid sustained demand growth, India plans to build a strategic reserve of critical minerals including lithium, cobalt, nickel, copper and rare earths. The stockpile will be sized to cover six months of domestic consumption, aiming to guard against risks of global supply disruptions and sharp raw material price volatility. Led by India’s Ministry of Mines and Ministry of Heavy Industries, the reserve covers key raw materials essential for new energy vehicles, energy storage and the electronics sector, fields where India currently relies heavily on imports. At present, the United States, China, South Korea and other countries have already established strategic reserve systems for critical minerals.

According to foreign media reports, the Indian government announced Monday evening that it will launch an investigation into certain aluminum wire products from Malaysia in response to review applications submitted by companies including Indian Aluminium Corporation, Vedanta, and Bharat Aluminium. The existing countervailing duties are set to expire in September, and the investigation aims to determine whether it is necessary to extend the tariffs.