South Korea’s Ministry of Land, Infrastructure and Transport announced that it will pre-announce amendments to the Enforcement Decree and related regulations of the Automobile Management Act to enhance safety management of batteries used in electric vehicles. The revisions include expanded information disclosure and stricter criteria for certification revocation. Under the new rules, consumers will be able to access more detailed information when purchasing EVs, including the battery’s country of origin, manufacturer, and production date.

[SMM Steel] On March 24, 2026, Jindal Steel Limited (JSL) announced the completion of its 6 million mt expansion project at the Angul steel mill in Odisha. The milestone was marked by the firing of the third basic oxygen furnace (BOF3). With this expansion, the Angul facility's capacity has doubled to 12 million mt per year, bringing JSL’s total domestic installed capacity to approximately 15 million mt per year. The project includes integrated upstream and downstream infrastructure to drive higher volumes and revenue growth.

India’s stainless steel sector is grappling with a significant imbalance between domestic capacity and the surging demand for high-quality materials. Despite robust growth in infrastructure and construction, local production struggles to keep pace, while low-priced imports continue to hinder the full utilization of domestic facilities. To address these gaps, industry players are focusing on strengthening local scrap recycling systems and enhancing technical capabilities to meet international standards. Balancing domestic output with consumption remains a critical priority for the long-term stability of India's stainless steel value chain.

【SMM Steel】Borusan Boru started the EIA process for a TRL 301.65m infrastructure project at its Gemlik facility. The investment involves revamping the pipe line and adding new phosphating and surface cleaning lines to meet rising customer demand for plain welded steel pipes. Upon completion, annual capacity is expected to reach ~1.14 Mt. The construction phase will employ ~50 people.

【SMM Copper Flash】In January-February 2026, China’s copper wire rod was mainly exported to Thailand, Saudi Arabia, Vietnam, India, the Philippines, and Malaysia. Combined exports to these six countries accounted for more than 70 of the nation’s total exports, with power infrastructure and new energy demand in Southeast Asia serving as the main boosting factors.

China's stainless steel industry is rapidly transitioning into a high-quality growth phase, with apparent consumption projected to reach 34.45 million mt in 2026. Shifting away from traditional industry reliance, the market's primary expansion engines are now new energy and high-end equipment manufacturing, bolstered by steady support from infrastructure, medical health, and marine engineering. The global energy transition is significantly boosting the need for corrosion-resistant materials in lithium battery equipment and hydrogen storage, while domestic upgrades demand high-performance alloys for aerospace and precision machinery.

The UK construction industry has strongly criticized proposed trade measures that would introduce stricter steel tariffs of 50% alongside quota reductions of up to 60%. Industry representatives warn these measures will drastically inflate costs for private housing and public infrastructure, particularly threatening the viability of companies involved in the €115 billion HS2 railway project, where large volumes of imported steel are already contracted. Thorsten Gerber, CEO of the Gerber Group, warned that these protectionist approaches disproportionately harm SMEs, automotive manufacturers, and the entire downstream metal processing sector, urging both London and Brussels to reconsider their strategies to avoid massive economic damage and widespread job losses.

Italy’s crude steel production increased by 8.1% month-on-month in February 2026, signaling a recovery in Southern European industrial activity. This rebound follows a period of stabilization and reflects improved demand from domestic manufacturing and construction sectors as energy price volatility subsides. The increase in output from Italian mills contributes to a moderately positive outlook for non-Chinese steel demand in 2026, which is projected to grow as interest rates decline and borrowing costs for major infrastructure projects soften globally.

Strait of Hormuz disruptions and Iran tensions are driving up aluminum prices and premiums. Aluminium Bahrain and Qatalum have cut output, while feedstock is tight. Rerouting via Port of Sohar or Saudi ports raises costs and delays. Buyers are turning to China, India, Russia, Canada, and scrap to offset risk. Prolonged disruption could reduce Middle East market share and reprice it as higher-risk supply.

[SMM Tin Brief Commentary: SHFE Tin Stopped Falling and Rebounded, Closing Up 2.94% as Macro Pressure and Bottom Support Vied Against Each Other]