According to foreign media reports, based on applications from multiple enterprises including Hindalco Industries and SRF Altech, India has decided to extend the anti-dumping duties on aluminum foil with a thickness of up to 80 microns imported from China, Malaysia, Thailand, and Indonesia until December 15, 2026. Previously, on September 29, 2025, the Directorate General of Trade Remedies (DGTR) of India's Ministry of Commerce and Industry had initiated a sunset review of aluminum foil imports from these four countries.

SMM News Flash: [Rebar] Rebar export FOB offers remained stable today. Market traders reported that inquiries were relatively mediocre and transactions remained weak, with strong wait-and-see sentiment among market participants. [Steel Billet] Billet export offers were in the doldrums today, quoted at 473-476 USD/tonne. Market feedback indicated that current trader offers were on the high side, while overseas billet export offers declined, weakening China's competitiveness and resulting in mediocre inquiries and poor transaction performance. [HRC] Sheet & plate export prices dropped1-2 USD/tonne day on day today, with HRC transaction prices at 496-50 USD/tonne. Market feedback showed that inspection rates at North China ports had increased recently, causing some unofficial quoted sources to shift to relatively less stringent ports for port departures, and corresponding price spreads narrowed. Regarding the de-escalation of US-Iran tensions, some export participants consulted today reported no notable increase in inquiries yet, and buyers may also be waiting to see subsequent risks.ently, there have been some new inquiries for medium and heavy plate in the Middle East, with a portion of them resulting in transactions. [India] A 0.40 INR/kWh industrial power tariff increase in Chhattisgarh, effective 1 Jul 2026, will raise induction furnace billet costs by ~3.17–3.80 USD/tonne and re-rolling (rebar/wire rod) costs by ~0.51–0.63 USD/tonne. Weak monsoon-season demand limits cost pass-through, with billet margins at risk of erosion by 2.64–3.69 USD/tonne. [SEA] Currently, construction project operating rates in Vietnam, the Philippines, Indonesia, and Thailand are at a seasonal low, severely suppressing rigid demand for long steel products such as rebar and wire rod. End-user buying sentiment is weak, the pace of overall inventory destocking is slow, and local major mills' rebar EXW prices are at 520–535 USD/tonne. Meanwhile, with the release of information on US-Iran negotiations, news of the Strait of Hormuz unblocking has sparked expectations among Southeast Asian buyers of lower freight rates, creating a mindset of buying on dips and waiting on the sidelines. However, according to SMM's latest survey, even if the agreement can be signed smoothly on the 19th, the actual unblocking of the strait will still require a buffer period. Freight rates are expected to be difficult to lower in the short term and will mainly fluctuate at high levels. [Taiwan, China] This week, Feng Hsin, a leading long steel producer in Taiwan, kept its long steel prices stable, halting a three-week downward streak. Specifically, the rebar price stabilized at 583 USD/tonne EXW (approximately 18400 TWD/tonne), while the structural steel price held steady at 792 USD/tonne EXW (approximately 25000 TWD/tonne). This price stability indicates that mills are ready to accept new orders as the market gradually bottoms out.

SMM News Flash: [Rebar] Today, export FOB prices for rebar rose slightly by about USD 2/tonne. According to market traders, inquiry activity was relatively decent, but actual transactions remained average. Some participants also noted that long steel demand in South America has been relatively stable recently, while demand in the Middle East remains weak. Regarding the US–Iran peace agreement, there has been no significant change in order flow so far, and overall market sentiment remains cautious and wait-and-see. [Billet] Today, export billet offers increased slightly by around USD 2/tonne, with prices at approximately USD 473–476/tonne FOB. Market feedback indicates that countries such as Indonesia and India are actively exporting billets, leading to intensified competition. However, domestic export price advantages are not obvious, as rising production costs are limiting steel mills’ willingness to discount, while traders are also more cautious in taking short positions. As a result, overall transaction activity remained moderate. [HRC] Today, export prices for flat steel products rose by USD 2/tonne day-on-day. Hot-rolled coil transaction prices were in the range of USD 497–506/tonne. Market inquiry activity was moderate, with no significant release of concluded deals. Recently, there have been some new inquiries for medium and heavy plate in the Middle East, with a portion of them resulting in transactions. [India] Ship-breaking scrap prices in the Alang (Gujarat) market increased by around 3 USD/tonne, with HMS (80:20) assessed at approximately 373 USD/tonne EXW. Semi-finished steel prices remained broadly stable, while finished steel saw a mild correction in the previous trading session. Market sentiment in Alang stayed subdued, as vessel arrivals remained at historically low levels. Strong freight economics continued to incentivize shipowners to extend the operating life of older vessels, limiting scrap inflows. In the near term, Alang scrap prices are expected to remain supported but constrained by tight supply conditions, with further movement largely dependent on vessel arrivals and downstream steel demand. [Thailand] Galvanizing quotes in the Thai market remained stable in the short term, with import offers still around 710 USD/tonne; however, for large-volume firm orders, the market could consider offering a discount of 5-10 USD/tonne. Wire rod quotes were also relatively stable, but some traders had to push up prices by 20 USD/tonne to 570 USD/tonne due to rising costs. In terms of local market transactions, downstream end-use demand was weak, and actual deals mostly shifted to a "negotiate deal by deal" model. It is expected that in the short term, Thai wire rod and galvanizing prices will hover at highs. Whether prices can subsequently stabilize on a solid footing will mainly depend on the release of downstream firm orders and the final bargaining and concession room offered by sellers under shipment pressure. [South Korea] Facing the approaching rainy season, South Korean builders are racing against time to push forward the final “intensive rush to meet deadlines” for foundation and main structure works, and the upward momentum of finished steel prices has slowed significantly. Today, POSCO’s two core steelworks (Pohang and Gwangyang) simultaneously raised the purchase price of high-quality pig iron scraps/premium steel scrap by 15,000 won/tonne (approximately 9.93 USD/tonne), and medium and light scrap by 10,000 won/tonne (approximately 6.62 USD/tonne), mainly to prevent domestic supply from being snapped up by other EAF steel mills before the off-season arrives. POSCO had no choice but to raise buying prices against the trend to “lock in” domestic spot cargo flows.

The global stainless steel market navigated a series of sharp sentiment. The opening weeks saw Indonesia's mill closures and price hikes push the cost narrative to its highest point of the year, before a combination of easing geopolitical tensions triggered the first price reduction since December 2025. The month's defining characteristic was similar to April's. What differentiated May was the sharply higher amplitude of both the policy signals and the emotional swings that accompanied them.

US iron and steel scrap exports totaled 1 million tonnes in April 2026, down 27.1% month-on-month and 4.7% year-on-year, per the US International Trade Commission. Canada was the top destination at 185,406 tonnes (+187.9% MoM), followed by Mexico (144,175 tonnes), Turkey (136,066 tonnes), and Thailand (79,886 tonnes). Export value reached 480.82 million USD, down from 669.24 million USD in March and 464.46 million USD in April 2025.

According to foreign media reports, in response to applications from Indian Aluminium Industries Limited (IAIL) and SRF Altech, among other companies, India has decided to extend the deadline for imposing anti-dumping duties on aluminum foil with a thickness of 80 micrometers or less imported from China, Malaysia, Thailand, and Indonesia until December 15, 2026. On September 29, 2025, the Directorate General of Trade Remedies under the Indian Ministry of Commerce and Industry initiated sunset reviews of aluminum foil imports from China, Malaysia, Thailand, and Indonesia.