[SMM Steel] Australia launched an anti-dumping probe into Vietnamese galvanized steel imports involving Hoa Sen and Nam Kim, with alleged dumping margins up to 56.21%. In 2025, Vietnam’s galvanized steel exports to Australia rose 24% YoY to US$29.5 million, while hot-rolled section exports surged 105% YoY to US$48.5 million. The US continues imposing AD duties of up to 130% on Vietnamese rebar and nearly 163% on coated steel, while the EU is tightening quotas and implementing CBAM.

US steel exports totaled 611,043 net tons (nt) in March 2026, reflecting a 6% increase from February but a 2.1% decrease compared to March 2025. For the first quarter of 2026, total exports reached 1.76 million nt, down 3.8% year-on-year. Canada remained the largest destination with 294,625 nt (+5% from Feb), followed by Mexico with 222,086 nt (+1% from Feb). The monthly rebound suggests a modest recovery in cross-border manufacturing demand within North America, yet the overall quarterly decline highlights a softening in international appetite for US-produced steel amid high domestic price premiums compared to global benchmarks.

[SMM Steel] Iranian steel exports remain active despite ongoing uncertainty around the Strait of Hormuz. Billet exporters continue offering cargoes, but transactions remain unstable due to shipping disruptions, limited vessel availability, and high insurance costs. Alternative logistics channels and Chabahar port continue supporting part of the export flows to China and India. Market participants expect steel trade linked to Hormuz to remain volatile even if diplomatic tensions ease.

[SMM Steel] In April 2026, China exported 9.498 million mt of steel, an increase of 363,000 mt MoM, up 4.0% MoM; cumulative steel exports from January to April totaled 34.214 million mt, down 9.7% YoY. In April, China imported 465,000 mt of steel, a decrease of 47,000 mt MoM, down 9.2% MoM; cumulative steel imports from January to April totaled 1.804 million mt, down 13.4% YoY.

[SMM Steel] UK Steel warned that Britain’s steel industry still relies heavily on imports, with domestic producers supplying only around 30% of local demand, far below levels seen in the EU and US. The association expressed concern that tighter EU quotas could hurt British exports, as around 80% of UK steel exports are shipped to the EU market. UK Steel also criticized growing preference for imported “green steel” produced via electric arc furnaces (EAF), warning that this trend could undermine investment in domestic steel decarbonization. The UK government plans to cut steel import quotas by 60% from July 1 and raise over-quota tariffs from 25% to 50%.

[SMM Steel] The American Iron and Steel Institute (AISI) urged the USTR to impose cumulative tariffs under the Section 301 investigation targeting economies linked to global steel overcapacity. AISI highlighted record Chinese steel exports of 131 million mt in 2025 and rising shipments from India, Indonesia, South Korea, Japan, and Mexico. The institute argued that subsidized exports and redirected trade flows are pressuring the US steel market. If approved, additional Section 301 tariffs could be added on top of existing Section 232 duties, potentially lifting total US steel tariffs on some countries to 60-75%.

Turkey's crude steel production grew by 5.3% year-on-year to 9.7 million metric tons (mt) in the first quarter of 2026, supported by a 6.4% output increase in March to 3.3 million mt. Meanwhile, domestic finished steel consumption surged 8.9% year-on-year to 9.9 million mt in Q1, but the foreign trade balance weakened as steel exports dropped 6.8% to 3.5 million mt while imports climbed 2.6% to 4.3 million mt, pushing the export-to-import ratio down to 77.7%. Although Middle East supply chain shifts and reduced Chinese export aggression opened market opportunities in Europe, producers face mounting operational pressures and narrowing profit margins due to scrap prices approaching $400/mt, surging freight rates, and stringent EU import regulations.

During this period, steel port departures from China's main ports totaled 2.8625 million mt, up 10% WoW.

[SMM Steel] Morocco has notified the World Trade Organization of its plan to extend safeguard measures on hot-rolled steel imports for another three years (Jun 2026–Jun 2029), maintaining an additional 19% tariff. The move aims to protect domestic producers from rising import pressure. The extension could weigh on Vietnamese steel exports, requiring exporters to reassess pricing strategies, cost structures, and market positioning. Industry authorities advise firms to diversify export markets and closely monitor trade remedy developments to mitigate risks.

The core logic of the South American steel market is that end-user demand drives everything. Consumption demand is the starting point, filled jointly by local production and imports; imports act as a regulating valve rather than a driving force.