After the holiday, ferrous metals opened higher, but subsequent trends diverged—steel products and iron ore fluctuated at highs, while coke surged before pulling back. The strong rally during the week was mainly driven by disturbances outside China. During the holiday, the US-Iran standoff escalated with widening negotiation gaps, pushing raw materials to lead the gains in ferrous metals. Combined with capital inflows after the holiday, this provided a clear upward drive for prices. In the latter half of the week, market rumors suggested that Iran and the US had reached a consensus on easing the US naval blockade in exchange for the gradual reopening of the Strait of Hormuz, and bears increased their positions in coke. Data on the five major steel products were released, showing weakness in both supply and demand, with inventory not accumulating after the holiday. On the spot market side, traders had a strong willingness to hold prices firm, and purchases were made in both futures and spot cargo at low price levels...

The European Commission has officially released the updated steel import quota volumes for the upcoming period starting July 1, 2026. The new regulations maintain the restrictive 15% cap per country for several hot-rolled and cold-rolled categories to prevent market flooding by specific exporters. Total quota volumes remain relatively stable, but adjustments have been made to specific country allocations for wire rods and galvanized sheets. These measures reinforce the EU's protectionist stance, likely keeping domestic steel prices elevated by limiting the availability of cheaper non-EU alternatives amid slow regional demand recovery

During the survey period (April 21–April 27), both the operating rates and capacity utilization rates of rebar and wire rod in the Central China region declined.

The planned rebar production in April was 8.0385 million mt, an increase of 103,500 mt or 1.30% from the actual production in March. The planned wire rod production in April was 2.9614 million mt, a decrease of 128,700 mt or 4.16% from the actual production in March. In April, the long product export scheduled production of sample steel mills was 791,000 mt, up 79,000 mt MoM, of which the steel billet export scheduled production was 420,000 mt, up 110,000 mt MoM.

[SMM Steel] The US Department of Commerce ruled that POSCO and POSCO International Corporation did not dump carbon and alloy steel wire rods in the US during May 2023–April 2024, revising the preliminary 0.51% margin to 0%. As a result, US Customs and Border Protection will liquidate relevant imports without anti-dumping duties, with instructions to be issued after 35 days. The ruling covers hot-rolled carbon and alloy steel wire rods under multiple HTSUS codes.

On April 2, 2026, the White House ushered US steel trade policy into "Version 2.0." This strategic shift goes beyond simple tariff hikes. It uses full-value taxation and melt-and-pour traceability to block low-end imported raw materials, while applying structural tariff reductions to finished products to ease manufacturing inflation. Ultimately, this two-pronged approach aims to forcibly bring the global supply chain back to domestic US steel production.

According to market reports, a major Taiwanese stainless steel wire rod manufacturer announced its April price list on March 30, raising 304 series wire rods by approximately $125/mt (NT$4,000). The 316 series saw a steeper increase of $219/mt (NT$7,000), while the 200 and 400 series both rose by $63/mt (NT$2,000). This move aligns with recent price jumps from other leading regional mills. The company attributed the surge to Middle East instability driving up energy and raw material costs, specifically for nickel, chrome, and molybdenum. Furthermore, a weakening New Taiwan Dollar and potential Indonesian export taxes on nickel have intensified inflationary pressures, directly impacting overall production expenses.

During the survey period (March 24–March 30), the operating rate of rebar in the Central China region remained temporarily stable, while the capacity utilization rate increased slightly; both the operating rate and capacity utilization rate of wire rod declined.

During the survey period (March 10–March 16), the capacity utilization rate of rebar and wire rod rolling lines in the Central China region increased to varying degrees.

Weekly Survey of Rolling Lines in Central China: This Period Still Saw Concentrated Production Resumptions at EAF Steel Mills, and Central China Construction Steel Production Rose Steadily