JSW Steel expects production and sales to strengthen from Q2 FY27 as the expanded Blast Furnace-3 at Vijayanagar ramps up, while reaffirming an aggressive capacity expansion pipeline spanning Dolvi, Odisha, Utkal and Kadapa. Despite the planned BF-3 shutdown, the company reported record first-quarter steel sales of 6.25 million tonnes, supported by resilient domestic demand and a 46% year-on-year increase in exports.

Bhilai Steel Plant (BSP), the flagship unit of Steel Authority of India Ltd (SAIL), has signed an Engineering, Procurement, Construction and Management (EPCM) consultancy agreement with MECON Ltd to expand its crude steel production capacity by 3.44 million mt per annum (Mtpa). The expansion will increase BSP's annual crude steel production capacity from 7 million mt to 10.2 million mt by 2030-31, strengthening its position as one of India's largest integrated steel plants and supporting the country's rising steel demand driven by infrastructure and economic growth. Under the agreement, MECON will provide end-to-end consultancy services covering project planning, engineering, procurement management, construction management and overall project execution to ensure timely implementation. The EPCM contract was signed on July 11 by senior officials from BSP and MECON. According to the Ministry of Steel, the expansion is expected to enhance production capability, improve operational efficiency through the adoption of advanced technologies and support SAIL's long-term objective of increasing domestic steel production. The agreement follows "Samanvay-2026," a vendor collaboration meet organised by BSP in June, where more than 200 delegates representing over 100 technology providers, engineering firms, equipment manufacturers and project partners discussed the execution roadmap for the expansion. During the event, BSP said the project forms a key part of SAIL's plan to increase its overall annual crude steel capacity to 35 million mt by 2030, in line with the Indian government's target of achieving 300 million mt per annum of national steelmaking capacity by 2030-31.

Vietnam's Trade Remedies Authority has updated its watchlist, with steel emerging as the sector under the most pressure, 9 product lines flagged across the EU, US, Canada, Australia, and India, including cold-rolled flat/stainless steel, hot-rolled 304 stainless steel, structural steel sections, prestressed steel wire strand, welded carbon steel pipe, bolts, and screws. Some products are growing fast: 304 stainless steel exports to India are up 95.6% (holding 39.2% import market share), welded carbon steel pipe to Canada up 190.7%, and prestressed steel wire strand accounting for 34.6% of US imports, even as the US already imposes duties on 22 other markets for similar products. The Ministry advises companies to tighten control over raw material sourcing and ensure traceability of origin to reduce risk.

According to SMM statistics, both mill inventories and social inventories saw inventory buildup to varying degrees. Total construction steel inventories reached 8.4379 million mt, up 41,800 mt WoW, or up 0.50% WoW, with the pace of inventory buildup continuing to slow.

[SMM Analysis] China-Indonesia Steel Price Spread Inverted, Overseas Demand Still Shows No Improvement China-Indonesia Price Spread Inversion From the price spread model, the most notable fluctuations are in the China-Indonesia spread. The slab spread has narrowed to zero, billet has even inverted, and HRC prices are also declining markedly. Specifically, according to SMM survey, Indonesian prices weakened sharply. On one hand, clients hold high inventory and are eager to sell at lower prices. On the other hand, due to quota impacts, exports to the EU are hindered, forcing them to cut prices to compete with Asian resources. Data source: SMM Japanese Steel Scrap Under Pressure and Drifting Lower After the Kanto tender weakened, several Japanese mills including Tokyo Steel successively lowered their scrap purchase prices. Last week, the domestic scrap price index lost stability. Although a downward adjustment occurred at end-July, the downtrend is expected to persist. For finished steel, July EXW prices announced by most major mills last week were largely flat. However, on the export front, after the EU implemented new quota policies, challenges for Japan’s steel exports have intensified. Despite strong reactions from Japan, the short-term trade difficulties are hard to reverse, which is expected to force Japanese mills to further adjust production, continuing production cuts. India HRC Shipments to Southeast Asia to Increase Due to Quotas Last week, Indian steel remained under pressure. Mumbai HRC prices fell about $3/mt WoW to $602/mt EXW, with market transaction prices around $571-611/mt. Monsoon weather dampened construction and infrastructure demand. Spot procurement and restocking willingness remained weak, intensifying competition for low-priced resources. On the export side, affected by EU policies and quota adjustments, Indian steel exports to Europe are facing difficulties, prompting mills to adjust their overseas sales strategies. Flows of resources such as HRC to Southeast Asian markets like Vietnam are expected to increase significantly. Given that fundamentals are unlikely to improve before end-July, India’s domestic steel prices are expected to continue their downward drift through end-July. Copyright and Intellectual Property Statement: This report is independently created or compiled by SMM Information & Technology Co., Ltd. (hereinafter referred to as "SMM"), and SMM legally enjoys complete copyright and related intellectual property rights. The copyright, trademark rights, domain name rights, commercial data information property rights, and other related intellectual property rights of all content contained in this report (including but not limited to information, articles, data, charts, pictures, audio, video, logos, advertisements, trademarks, trade names, domain names, layout designs, etc.) are owned or held by SMM or its related right holders. The above rights are strictly protected by relevant laws and regulations of the People's Republic of China, such as the Copyright Law of the People's Republic of China, the Trademark Law of the People's Republic of China, and the Anti-Unfair Competition Law of the People's Republic of China, as well as applicable international treaties. Without prior written authorization from SMM, no institution or individual may: 1. Use all or part of this report in any form (including but not limited to reprinting, modifying, selling, transferring, displaying, translating, compiling, disseminating); 2. Disclose the content of this report to any third party; 3. License or authorize any third party to use the content of this report; 4. For any unauthorized use, SMM will legally pursue the legal responsibilities of the infringer, demanding that they bear legal responsibilities including but not limited to contractual breach liability, returning unjust enrichment, and compensating for direct and indirect economic losses. Data Source Statement: (Except for publicly available information, other data in this report are derived from publicly available information (including but not limited to industry news, seminars, exhibitions, corporate financial reports, brokerage reports, data from the National Bureau of Statistics, customs import and export data, various data published by major associations and institutions, etc.), market exchanges, and comprehensive analysis and reasonable inferences made by the research team based on SMM's internal database models. This information is for reference only and does not constitute decision-making advice. SMM reserves the final interpretation right of the terms in this statement and the right to adjust and modify the content of the statement according to actual circumstances.

A downturn industry affects Liberty Steel workers at its Bartonville, Ill., facility face furloughs, but the company spokeperson say that this is temporary. Some of the workers were furloughed starting 20 July 2026 and this will impact the steel production as this mill is producing things like billets, wire rod, industrial wire, and fencing products.