India’s iron ore imports declined by 11% year-on-year in April 2026, falling to 0.41 million metric tons (mt) from 0.46 million mt in the previous year. This drop follows a record-high import year in 2025 and is attributed to increased domestic mining output and a strategic shift by coastal steel plants toward local ores to mitigate high sea-borne freight costs. Despite the import decline, India’s total domestic iron ore production is projected to remain strong to support its expanding crude steel capacity. The reduction in Indian import appetite may slightly ease the demand pressure on high-grade Australian and Brazilian fines in the spot market.

【SMM Steel】SAIL's Durgapur Steel Plant selected SMS group for a turnkey modernization of its 2x6-strand, six-meter billet casters. The project converts machines to a seven-meter radius using existing foundations. Implementation occurs during ongoing ops, with each caster requiring a five-month shutdown. Caster #1 expected in Q4 2027, #2 in Q3 2028. Upgrades improve long product casting for rebar/wire rod, enable 150x150mm billet production, and provide a 60% output increase. The design adds 160mm round capabilities for future production. The initiative reduces costs and improves availability.

War damage to Iran’s key steel mills threatens ~14 Mt of capacity, sharply reducing crude steel output and exportable supply. While domestic demand remains relatively stable, energy shortages and logistics disruptions amplify losses, tightening regional supply, supporting semi-finished steel prices, and reshaping trade flows.

【SMM Steel】Mobarakeh Steel Co. said its facility sustained "another heavy attack" on Mar 31, the second since Feb 28. Affiliate Sefid Dasht Steel was also damaged. No precise production status was given. Sefid Dasht has 800,000 t/y capacity and supplies sponge iron to Mobarakeh. Before the attack, Iran expected the plants to resume operations soon.

[SMM Steel] India’s Steel Ministry has flagged LPG supply shortages impacting steel plants and conveyed industry concerns to the Petroleum Ministry. Supply disruptions linked to the Iran conflict and prioritization of household consumption have reduced industrial LPG availability. Steelmakers are seeking alternative propane supplies, including from Russia, to maintain operations, while shortages may also affect key inputs such as nitric acid, lime, and ammonia used in stainless steel production.

In 2025, China's cumulative magnesium product exports reached 447,000 mt, down 2.7% YoY. The market showed structural differentiation: exports of the traditional mainstay product, magnesium ingot, totaled 251,300 mt (-5.54%), with purchasing as needed prevailing throughout the year due to weak overseas end-use demand and policy fluctuations; magnesium powder exports amounted to 73,600 mt (-11.07%), significantly impacted by the European energy crisis and contraction in the steel industry; magnesium alloy exports reached 99,600 mt (+4.43%), bucking the trend to become the sole bright spot, primarily benefiting from recovering demand in overseas sectors such as NEVs. Geographically, Europe remained the dominant market, but India saw rapidly rising demand in areas like magnesium powder. Looking ahead to 2026, two new policies—customs network verification and export controls to Japan—are expected to drive the market toward greater standardization, with overall export growth projected to be led by deep-processed products like magnesium alloys.