The EEC's Department for Internal Market Defence has issued its final disclosure for the first AD sunset review on stainless steel welded pipes from China, concluding that removing existing measures would lead to a recurrence of dumping and injury to EAEU industries. It has recommended extending AD duties for a further five years. The products covered are corrosion-resistant steel welded pipes and hollow profiles with wall thickness of 0.4–6mm in circular, rectangular, or square cross-sections (HS codes 7306 40 2009, 7306 40 800 1, 7306 40 800 8, and 7306 61 1009). Current duty rates stand at 14.62% for Foshan Vinmay Stainless Steel Co., Ltd. and 17.28% for Guangdong Sumwin New Material Group Co., Ltd. and other Chinese producers.

Mexico's Ministry of Economy issued the final ruling of its second anti-dumping sunset review on June 8, 2026, extending duties on stainless steel sinks imported from China with a unit weight of 8 kg or less (tariff code 7324.10.01) for a further five years, effective from May 9, 2025. Taizhou Luqiao Jixiang Kitchenware Co., Ltd. faces a specific duty of US$4.14/net kg, while all other Chinese producers and exporters are subject to US$5.40/net kg.

2026-06-10 15:25PM UTC While markets have been focused on the recent sharp decline in gold prices, the broader precious metals sector has also experienced significant selling pressure, with platinum-group metals suffering some of the steepest losses, according to a report from Bank of America. Both platinum and palladium recently fell to their lowest levels of the year amid continued pressure from the global economic slowdown and geopolitical tensions. Global economic weakness and Middle East tensions weigh on platinum-group metals Commodity analysts at the bank said the rally in platinum-group metals lost momentum since late January, largely due to gold’s price action and persistent economic headwinds linked to the conflict in the Middle East, which continue to weigh on industrial metals demand. Despite the recent weakness, the bank maintained its positive long-term outlook for the sector, noting that it remains constructive on gold heading into the fourth quarter. A renewed gold rally could attract investors back into platinum-group metals and help support prices. Spot platinum fell to around $1,711 per ounce, down more than 2% during the session, while palladium traded near $1,203 per ounce, up roughly 0.5%. Since the sharp selloff on Friday, platinum has lost more than 9% of its value, while palladium has fallen over 6%. Higher price targets despite weak industrial and jewelry demand Despite current pressures, Bank of America still expects platinum to average around $3,000 per ounce by the fourth quarter of 2026 through the first half of 2027. Palladium is expected to average around $2,200 per ounce during the final three months of the year. Platinum-group metals delivered strong gains during 2025 as global trade tensions and threats of tariffs on precious metals created significant disruptions in physical market liquidity. However, analysts noted that most of those concerns eased after tariff threats failed to translate into broad implementation. According to the report, the absence of tariffs resulted in more than 200,000 ounces of platinum leaving NYMEX warehouses, roughly half of the inflows recorded during the second half of 2025. Palladium, meanwhile, saw outflows in late January before flows reversed after the US Department of Commerce imposed final anti-dumping duties of 133% and countervailing duties of 109% on Russian palladium. Structural shifts in demand The bank also highlighted structural changes in demand for platinum-group metals. Platinum is expected to record a modest supply deficit this year, while palladium is forecast to remain in a slight surplus. Analysts pointed to China’s accelerating transition toward electric vehicles as a major source of market volatility, given the reduced demand for internal combustion engine vehicles that rely heavily on platinum-group metals in catalytic converters. Electric vehicles are expected to account for roughly 40% of China’s light-vehicle production this year, surpassing conventional combustion-engine vehicles for the first time. Traditional vehicles are projected to represent 36% of production, while hybrids account for 24%. Production of internal combustion vehicles in China has already fallen to approximately 14 million units in 2025, down from 21 million in 2020. By contrast, the transition to electric vehicles remains slower in Europe and the United States, particularly after Washington scaled back some of its earlier electrification initiatives. Weak jewelry demand in China Demand for platinum jewelry has also slowed, especially in China, where elevated inventories accumulated during the manufacturing boom of mid-2025 continue to pressure the market. Although some of those inventories have already been recycled, retailers still hold large stockpiles while consumer demand remains weak, raising the risk of a significant contraction in Chinese jewelry manufacturing volumes this year. Energy costs threaten South African production Despite uncertainty surrounding global demand, Bank of America believes supply-side risks could become increasingly important. The bank noted that ongoing Middle East tensions, higher energy prices, and inflationary pressures could negatively affect production, particularly in South Africa, one of the world's largest producers of platinum-group metals. South Africa relies heavily on imported oil, has limited domestic production capacity, and faces ongoing refining constraints, leaving its mining sector highly exposed to rising fuel costs. Diesel remains widely used across mining operations, transportation networks, and backup power generation, especially given the country's persistent electricity shortages. Diesel prices have surged since the conflict began, while state utility Eskom raised electricity tariffs by 8.76% beginning in April 2026, significantly increasing mining costs. In this context, Sibanye-Stillwater reported a 13% year-over-year increase in unit operating costs during the first quarter, citing persistent inflationary pressures, including higher labor and energy expenses. In trading on Wednesday, spot palladium rose 1.5% to $1,249 per ounce as of 16:14 GMT. Source： https://www.economies.com/commodities/palladium-news/palladium-attempts-to-recover-losses-as-bank-of-america-maintains-a-bullish-outlook-49044

Brazil's slab export volumes fell sharply to 390,500 metric tons (mt) in May 2026, a 43% decline from 687,500 mt in April. Key shipments included 236,300 mt by Ternium to the US at $614/mt FOB, and ArcelorMittal sending 93,800 mt to the US ($646/mt FOB) and 60,400 mt to France ($556/mt FOB). The significant contraction in export availability is driven by intense domestic consumption from local rolling mills, specifically Usiminas and CSN, as they ramp up flat steel production to replace Chinese imports following the imposition of anti-dumping duties in February. Additionally, zero slab imports were recorded at Brazilian ports in May, emphasizing a tightly balanced internal market.

【SMM Steel】Indonesian hot-rolled coil has filled the gap in Taiwan's market caused by anti-dumping duties on Chinese HRC and rising local prices. Indonesian mills customized mainstream sizes and flexible specifications to attract Taiwan processors, securing over 5000 tonnes of orders in June alone exceeding the total volume for all of last year. Major Indonesian suppliers backed by large trading networks are driving this expansion. While re-rollers remain cautious steel traders and cutting processors actively secure these alternatives to fill the void left by Chinese supply. This surge establishes Southeast Asian mills as a force capable of reshaping Taiwan's steel supply network as competing Indonesian producers prepare to lower price quotes to secure more orders.

[SMM Analysis] Steel billet sees notable YoY increase, while UAE’s decline hits a new low By product: Steel billet’s increase remains impressive, mainly because previous geopolitical conflicts caused periodic logistical bottlenecks and surging insurance premiums in major billet and slab production areas at some local Middle East EAF mills and BF-based plants. Overseas billet supply faced a vacuum period, directly pushing global buyers to launch massive inquiries with China. Purchasing sentiment strengthened notably in Southeast Asia in particular. According to SMM’s order-taking survey, exports are expected to stay high in the short term. It is also worth noting that Vietnam’s anti-dumping duties on China’s HRC will be implemented on April 17. As a result, total HRC exports to Vietnam in April increased compared with March, driven by a final rush to front-load shipments before the deadline. Exports are expected to pull back again in May. Data Source: SMM, General Administration of Customs By country: Djibouti’s increase topped the list. Its product mix chart clearly shows that HRC (42%) and steel billet (30%) are the dominant products. As the “Gateway to East Africa” and a transshipment hub, Djibouti itself lacks large-scale consumption capacity. This surge is essentially because repeated Red Sea tensions caused large vessels to unload and transship directly in the Mediterranean or south of the Suez Canal, with Djibouti serving as a safe transit point serving East African inland infrastructure projects such as Ethiopia, or shipping onward via smaller vessels to North Africa. As a global shipping and trade settlement center, Singapore saw an increase of 290,000 mt, mainly due to centralized procurement and trade settlement by ASEAN and Chinese-invested construction projects in Singapore, which provided marginal support for China’s exports of bars, wire rods, and other infrastructure-related finished steel products. The UAE dropped 870,000 mt, and Saudi Arabia dropped 450,000 mt. This was primarily due to geopolitical uncertainties in the Middle East, compounded by excessive stockpiling by major Middle Eastern buyers earlier to avoid logistics risks, pushing the Middle East market into a defensive cycle of destocking and slower purchasing. Data Source: SMM, General Administration of Customs Outlook: SMM’s April orders remain at a high level, and May exports are still expected to see increases. According to SMM’s steel export order data, affected by holidays, steel export orders in April dipped slightly by 0.57% MoM from March. However, it is also learned that shipping to the Middle East is gradually recovering, and orders for slabs destined for Southeast Asia saw a significant increase in April. Taking all factors into consideration—with the new export orders index re-entering expansion territory, the export price advantage still significant, and export order performance excellent—SMM expects that China’s steel exports in May will still see growth, with steel billet continuing to play a dominant role. Data Source: SMM 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. 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On May 28, 2026, the Department for Internal Market Protection of the Eurasian Economic Commission issued Notice No. 2026/483/AD28R2, and based on Commission Order No. 62 of May 25, 2026, decided to extend the validity period of the anti-dumping duty on aluminum strip originating in China and Azerbaijan until May 24, 2031. This decision shall enter into force 30 days after the date of its publication. This case involves products under Eurasian Economic Union tariff codes 7606119100, 7606122003, 7606122008, 7606129203, and 7606129208.

India’s Ministry of Steel has asked the Ministry of Finance to remove anti-dumping duties on imports of low-ash metallurgical coke, citing insufficient domestic supply and elevated prices. The ministry said current domestic availability is not enough to meet steel industry demand, creating clear pressure on raw material sourcing and production costs.

The European Parliament has officially approved a comprehensive package of new steel trade protection measures designed to shield the European steel sector from aggressive non-EU import surges. Welcomed by Eurofer and European steel producers, these updated regulations streamline the enforcement of anti-dumping duties, expand retrospective surveillance monitoring, and establish automated triggers to counter global excess capacity leakages into the single market. The policy update aims to insulate the region's domestic mills as they absorb the high financial burdens of transition capital expenditure. The market impact outlines a heavily restrictive trade environment for international steel exporters.

A Chinese energy and chemical firm plans to build a magnesium alloy project in Turkmenistan, leveraging local resources and Chinese technology. Meanwhile, Brazil sharply raised anti-dumping duties on Chinese magnesium ingots to $4.07/kg, effectively closing direct export channels.