Vietnam's Ministry of Industry and Trade has issued Decision No. 1917/QD-BCT, imposing an official 27.83% anti-circumvention duty on certain hot-rolled steel products originating from China. The measure covers a range of flat-rolled alloy and non-alloy steel products under specified HS codes, while exempting high-carbon steel, hot-rolled steel plates with a thickness of 10 mm or more, and products already excluded under existing anti-dumping measures. The decision took effect on July 28, 2026, and aims to prevent the circumvention of Vietnam's trade remedy measures on steel imports.

India’s Defence Metallurgical Research Laboratory has transferred technology for producing DMR-249B defense-grade steel plate in thicknesses of 8–30 mm to two major steel plants. Technology for DMR-249A and DMR-249BK billets was also transferred. The high-strength, low-alloy products are intended for naval ships and submarines, supporting domestic production of specialized steel and reducing dependence on imports.

In June, the steel industry achieved a profit of 13.6 billion yuan.

In June, production of medium-thickness plate rolling mills and cold tandem rolling mills of key statistical enterprises rose YoY, while production of hot tandem rolling mills fell YoY. Production of main varieties of plates rose or fell YoY. Among them, output of shipbuilding plates and steel plates for construction machinery increased significantly, while output of pipeline plates and wind power steel plates decreased significantly. Except for cold-rolled thin sheet and strip, whose price fell MoM, prices of other products all rose.

Overseas rare earth markets diverged this week between light and heavy types. Driven by the uptrend in China, terbium oxide and terbium metal prices rose, while light rare earths remained stable. Trading-wise, heavy rare earths saw few transactions due to export controls. On the industrial front, U.S. companies accelerated domestic recycling and purification, while European and Japanese firms advanced R&D on magnetic material recycling and rare-earth-free alternative technologies. Meanwhile, Indo-Pacific and South Korean players actively restructured supply chains, and resource development and processing projects were intensively launched in locations such as Malaysia, Thailand, and Brazil. The global “de-risking” layout for rare earths continued to deepen.

Indian steelmaker JSW Steel plans to inject over US$500 million into its US operations to modernise its facilities in Mingo Junction, Ohio, and Baytown, Texas, attributing this investment climate to the Trump administration’s policies. In Ohio, its US$165 million project has introduced vacuum degassing units and advanced slab continuous casting machines, enabling the domestic production of 12-inch steel slabs and thereby eliminating reliance on imports from countries such as Brazil. Meanwhile, the Baytown steel plate and pipe mill is undergoing a US$110 million modernisation programme, with production expected to commence on 1 October 2026.