[SMM Steel] Quang Ngai Province and VNSTEEL held discussions on potential steel investment projects in the Dung Quat Economic Zone. Provincial authorities highlighted Dung Quat’s advantages, including its deep-water port infrastructure and established steel industry ecosystem, while indicating readiness to allocate around 15 hectares of land for projects with annual capacities of 500,000-1 million tonnes. The province also pledged support through tax incentives, land policies, and streamlined administrative procedures to attract steel investments and strengthen Vietnam’s steel supply chain.

Following the formal announcement by India’s Minister of Commerce and Industry, the India–Oman Comprehensive Economic Partnership Agreement (CEPA) will take effect on 1 June 2026. Market attention has largely focused on the surface-level benefit that “Oman will exempt an average 5% import tariff on 98% of Indian export goods.”

[Lacking Drivers for Wild Swings, GO Silicon Steel Prices Expected to Run Steadily Next Week] Cold-rolled grain-oriented silicon steel spot prices ran steadily this week, with mainstream quotations remaining firm and overall transactions proceeding in a stable and orderly manner. According to market feedback, although ferrous metals futures fluctuated downward, exerting some pressure on market sentiment, Baosteel's price-firming policy for June—raising the base price of GO silicon steel by 200 yuan/mt and adding an additional 100 yuan/mt for high-grade products rated 75 and above—effectively supported the spot price floor. Traders' quotations were generally stable, with limited willingness to sell at low prices.

SMM has been deeply engaged in the metal industry for decades, consistently upholding the principles of objectivity, neutrality, pragmatism, and rigor. By adhering to actual market transactions as the core pricing benchmark and leveraging its well-established price assessment methodology and comprehensive data system, SMM continues to deliver standardized market benchmarks for participants across the industry chain. This provides solid support for industry pricing standards, transaction settlements, and business decision-making, serving as a long-term partner in the steady development of the metal industry.

[Intensified Competition Due to Loose Supply, Non-Oriented Silicon Steel May Run Stable Next Week] According to market surveys, traders gradually resumed production after the holiday, but spot transactions were sluggish, with merchants mainly following up on orders left over from before the holiday. Meanwhile, arriving resources continued to replenish after the holiday, social inventory accumulated steadily, and spot supply was relatively sufficient. Currently, the downstream motor and home appliance industries are gradually entering the traditional demand off-season. Combined with supply fluctuating at highs, competition among various brands of silicon steel intensified, end-user purchase willingness remained weak, and spot prices encountered resistance obviously.

【SMM Steel】Polish steel group Cognor Holding raised rebar prices nearly 20% effective early 2026 amid a gradual market recovery and EU regulatory changes. The company expects steps to partially offset 2025 losses and improve financial results in coming quarters. A collapse in rebar prices due to Chinese dumping and weak European demand led to revenue falling >9% y/y to PLN2.08bn. Cognor expects operating metrics to improve in Q1 2026 and a return to profitability in Q2. EU regulatory changes, including CBAM and new market protection tools, could reduce external steel supply by ~50%, supporting capacity utilization and price stabilization.