【SMM Steel】The UK published its Steel Strategy on Mar 19, 2026, to revitalize domestic production, prioritize recycled scrap, and shift to EAFs. The plan aims to raise output from ~30% of demand to 40-50% and includes up to £2.5bn in support. A Scrap Working Group will be set up by May 2026. New trade measures, including up to 50% tariffs on excess imports, take effect from July 2026.

The U.S. government has shifted from policy announcements to actively deploying capital, channeling funds through multiple programs to strengthen domestic and allied critical mineral and metal supply chains and related manufacturing. In practice, this financing is delivered through several key agencies: the Department of Energy (especially the Loan Programs Office), the Department of Defense (including Defense Production Act Title III and the Office of Strategic Capital), the Department of Commerce (such as the CHIPS Program Office), USDA Rural Development for select industrial support, and the International Development Finance Corporation for strategic overseas investments, alongside the Export-Import Bank, which plays a major role in funding projects from mining to manufacturing.

Kazakhstan-based steelmaker Qarmet has announced a strategic expansion of its Kentobe iron ore deposit, aiming to transition the site from an open-pit operation to a massive underground mining complex. Supported by a broader $400 million investment program, construction of the underground facility will commence in 2028 to tap into reserves exceeding 100 million metric tons. This modernization will secure long-term raw material supplies for Qarmet's metallurgical operations, lifting the site's annual iron ore output from the current 750,000 metric tons to over 850,000 metric tons in the near term.

India is projected to increase its iron ore imports to a seven-year high of 14 million tonnes in the 2025/2026 financial year to support its rapidly expanding steel production capacity. This trend reflects a strategic shift by Indian steelmakers toward sourcing high-grade international ores to optimize blast furnace efficiency as domestic crude steel production targets continue to rise. Despite being a major producer and exporter of iron ore, India's growing appetite for premium-grade feedstock is expected to make it a more prominent player in the global seaborne iron ore trade.

Tokyo's Tepco Power Grid implemented its first-ever economic curtailment of renewable energy in March 2026, cutting up to 1.84 GW of output due to high solar generation and low weekend demand. As the last region in Japan to experience this, the event marks a significant shift, signaling that solar deployment is now outpacing system flexibility nationwide. Experts warn that curtailment has become a structural issue, highlighting the urgent need for expanded battery storage and stronger inter-regional transmission.

On March 23 (local time), Toyota announced plans to invest $800 million in its Kentucky plant to prepare for a second battery electric vehicle (BEV) production line and expand capacity for the Camry and RAV4. The company will also invest $200 million across two facilities in Indiana to increase production of the Grand Highlander SUV, while advancing parallel efforts related to battery manufacturing.