JSW Steel delivered record production and sales in FY2024-25, but weaker steel realizations dragged down revenue and margins, creating a clear growth paradox: higher volumes but lower earnings quality. As India’s largest steelmaker, JSW’s next challenge is to turn its scale into more resilient earnings through higher VASP contribution, stronger raw material security, selective overseas improvement, technology partnerships, and decarbonization readiness.

【SMM Steel】ArcelorMittal's Mardyck site produced the first industrial coil on new lines, a key project milestone. The electrical steel is critical for e-mobility and energy transition, used in motors/generators for autos, wind turbines, and industrial equipment. Up to 400 people contributed. The first coil weighs >17 tons and measures ~4 km. The new line will triple ArcelorMittal's EU electrical steel capacity to 295,000 t/y, all in France.

【SMM Steel】Taiwan's CSC filed an AD petition on cold-rolled steel imports with the Ministry of Finance before the Qingming Festival. If no supplements are needed, a case could be launched by mid-May, with a preliminary decision due by mid-July. The move follows actions against HR and electrical steel. CSC's chairman confirmed plans to counter unreasonable pricing. The ministry typically announces its decision within 40 days.

[SMM Steel] Thyssenkrupp Steel Europe urged the European Commission to strengthen safeguards for grain-oriented electrical steel as low-cost Asian imports disrupt the market. Producers warn that current measures are insufficient, with cheaper imports already forcing production cuts in parts of Europe, particularly in France. The industry cautions that without stronger protections, domestic capacity and technical expertise may further decline.

【SMM Steel】Thyssenkrupp Steel Europe is pushing the EC for immediate trade protection to defend its grain-oriented electrical steel production. Cheap Asian imports have tripled since 2022 and soared 50% in 2025. Thyssenkrupp extended production cuts at two facilities. GO steel is essential for power grids but avoids existing quota cuts. The steelmaker warns 1,200 jobs and Europe's tech lead are at risk without a level playing field. Quick intervention is needed.

【SMM Steel】The European Commission launched a safeguard investigation into GOES imports. It aims to assess if rising volumes are causing serious injury to the EU industry. GOES is a critical material for power transformers. The scope also includes laminations and cores. The probe will assess import trends and market conditions. If injury is confirmed, temporary or definitive safeguard measures may follow.