[India] According to Pondrik Sandeep, Secretary of India's Ministry of Steel, India's steel consumption rose from 77 million mt in fiscal 2014-15 to 152 million mt in fiscal 2024-25. Speaking at the India AI Impact Summit 2026 in New Delhi, Pondrik said India's crude steel capacity is expected to reach 300 million mt in fiscal 2030-31 and further increase to 400 million mt in fiscal 2035-36. The summit also brought together steel producers, iron ore miners, and AI technology providers to discuss AI applications in the steel industry chain and potential cooperation opportunities.

More than 10 Vietnamese banks have announced lending-rate cuts and preferential credit packages since August, with several programs targeting SMEs, manufacturing and import-export businesses. Interest-rate reductions range from around 0.5% to 2.5% per year, while major banks including Agribank, BIDV, Vietcombank and VietinBank have launched preferential packages of VND50–70 trillion for priority sectors. The measures are expected to lower financing costs, improve cash flow and support working capital for steel producers and downstream businesses, particularly those involved in construction, manufacturing, exports and national infrastructure projects, providing additional support for domestic steel demand.

Taiwan’s Ministry of Finance initiated an anti-dumping investigation on August 14, 2026, into cold-rolled stainless steel flat products imported from Vietnam following a petition by Yieh United Steel and Tang Eng. The investigation covers shipments from July 2025 to June 2026, with the applicants alleging a dumping margin of up to 31.36%—a preliminary claim rather than a final determination. The case involves 20 Vietnamese enterprises, including Vnsteel, Posco VST, YGS Vina and Nam Thuan Phat, and could add further pressure to Vietnam’s stainless steel exports as trade-remedy actions in overseas markets continue to increase.

JPMorgan upgraded Aperam and Outokumpu from Neutral to Overweight, forecasting 2027 EBITDA of €757 million and €571 million respectively, 7% and 5% above market consensus, with price targets of €57 and €6.50 per share, implying 21% and 19% upside from August 10 closing prices. The key catalyst is the EU's new steel safeguard measures effective July 1, which cut stainless steel import quotas by 55–65%, reducing import penetration to approximately 15%, described by JPMorgan as a "game changer" for EU steel producers. The bank projects EBITDA growth of over 50% YoY for all three European stainless producers in 2026, accelerating to over 100% in 2027, outperforming carbon steel peers facing decarbonization capex pressures. Acerinox was upgraded from Underweight to Neutral, though its ~50% YTD share price gain leaves it approximately 11% above JPMorgan's new €16.10 December 2027 target price.

Provisional data from the Federal Statistical Office revealed that production in Germany's manufacturing sector grew by 0.2% month-on-month in June 2026, driven significantly by a 3.6% expansion in the automotive industry. The consecutive monthly growth offers a modest demand buffer for domestic flat steel producers facing an otherwise stagnant macroeconomic environment. However, industry groups warn that critically low water levels on the Rhine River could throttle supply chains and erase these gains in the third quarter.

[India] Affected by monsoon weather, sentiment in India's domestic steel and scrap market remained cautious, with buying activity largely dominated by need-based procurement. Demand from the infrastructure and manufacturing sectors continued to underpin the market, while steel mills and secondary steel producers remained watchful of finished steel demand and profit margins before initiating fresh purchases. In terms of prices, the ex-yard price of ship-breaking melting scrap in Alang fell by 3.15 USD/tonne from last Friday to 341.13 USD/tonne (32,500 INR/tonne). In northern Mandi Gobindgarh, the price of HMS 1&2 (80:20) scrap edged down by 1.05 USD/tonne (100 INR/tonne). Meanwhile, Bellary sponge iron PDRI price dipped slightly by 2.10 USD/tonne to 274 USD/tonne (26,100 INR/tonne), while Mumbai rebar prices inched up by 1.05 USD/tonne to 492 USD/tonne (46,900 INR/tonne).