【SMM Steel】JSW Steel's May consolidated crude steel output rose 15% y-o-y to 2.29 million tonnes driven by full operations at its Dolvi facility which had planned maintenance last year and the complete ramp-up at JVML. Domestic output rose to 2.19 million tonnes from 1.9 million tonnes while its US Ohio plant output climbed 20% to 95000 tonnes. Excluding the ongoing shutdown of BF3 at Vijayanagar for expansion domestic capacity utilization reached approximately 98%. JSW Steel had reported April crude steel output of 2.12 million tonnes down 1% y-o-y.

According to CISA data released June 4, member mills averaged 2.01 million tonnes/day of crude steel in late May, down 4.6% (80,000 t/d) from mid-May and 4.1% year-on-year. Including non-members, national daily output averaged 2.69 million t/d, down 4.3%. North China led the decline at -8.3% (57,000 t/d). Finished steel output edged up 3.2% to 2.07 million t/d. Despite this, inventories fell: member mill stocks dropped 15.7% to 15.83 million tonnes by May 31, while stocks in 21 tracked cities dipped to 10.22 million tonnes.

The Bureau of International Recycling (BIR) reported that global recycled steel consumption grew by 4.5% year-on-year to 480 million metric tons (mt) in 2025 across key markets, even as global crude steel output fell by 1.9% to approximately 1.85 billion mt. Global direct reduced iron (DRI) production also climbed 4.9% to 153 million mt, largely driven by India's 7.4% output increase to 58.9 million mt. In terms of trade flows, the EU-27 and the US remained the largest scrap exporters at 16.68 million mt and 11.76 million mt, respectively, while Turkey retained its position as the top importer with 18.76 million mt despite a 6.6% volume decline. Pakistan posted exceptionally strong import growth, surging 39.8% to 3.02 million mt. This decoupling of scrap consumption from total crude steel production underscores the accelerating global shift toward lower-carbon electric arc furnace (EAF) steelmaking. The sustained demand for scrap and DRI signals structurally tighter future raw material supplies, which will continually reshape global trade dynamics as countries secure resources for decarbonization.

【SMM Steel】Japan's steel exports fell 6.7% y-o-y to 2.28 million tonnes in April, marking the sixth consecutive monthly decline, mainly due to lower shipments to South Korea and Taiwan. Total exports in Jan-Apr 2026 reached 9.27 million tonnes, down 9.3% y-o-y. METI forecast crude steel output for April-June to decline 1% y-o-y to 60.9 million tonnes, citing weak demand from China and SE Asia and trade measures against Japan. Risks include Middle East oil supply disruptions, falling regional demand, and China rerouting exports to the Middle East.

Tata Steel’s latest performance shows a company moving from a traditional volume-based steel business toward a more margin-focused and transformation-driven model. It is driving growth and profitability, financial performance is recovering through better margins and cost control, while the company’s key business activities are increasingly focused on downstream expansion, raw material security and low-carbon steelmaking.

[SMM Steel] Vietnam officially became the world’s 10th largest crude steel producer after April 2026 output reached 2.1 million mt, up 4% y-o-y, according to worldsteel data. January-April crude steel production totaled 8.5 million mt, rising 8.4% y-o-y. Market participants said the growth reflected Vietnam’s rapid expansion in integrated steelmaking capacity and increasing production of higher-value steel products. Hoa Phat remained the country’s largest producer, contributing around 11 million mt in 2025 and targeting over 14 million mt of crude steel output in 2026.

According to the Brazilian Steel Institute (IABR), Brazil's crude steel production reached 2.673 million metric tons (mt) in April 2026, slightly up from 2.645 million mt in April 2025. Despite a 7.1% year-on-year drop in rolled product output to 1.869 million mt—driven by a 7.9% decline in flat products (1.077 million mt) and a 6.1% drop in long products (792,000 mt)—domestic sales of steel products increased by 7.1% to 1.797 million mt. Furthermore, apparent steel consumption decreased by 2.7% to 2.100 million mt, while exports surged by 62.4% to 1.054 million mt and imports contracted sharply by 33.3% to 363,000 mt.

According to data released by the German Steel Federation (WV Stahl), Germany's crude steel production surged by 15.3% year-on-year in April 2026 to reach 3.51 million metric tons (mt), bringing cumulative production for the first four months of the year (January-April 2026) to 13.56 million mt, up 9.1% compared to the same period in 2025. This production increase was primarily led by the oxygen-blown blast furnace route, which jumped 16.9% year-on-year in April to 2.45 million mt, while electric arc furnace (EAF) production rose by 11.7% to 1.06 million mt during the month. Despite these positive figures, WV Stahl stressed that this output spike reflects a low statistical base from 2025 rather than an industrial turnaround.

[SMM Steel] Global crude steel production declined 1.9% y-o-y to 153.4 million mt in April 2026, while January-April output fell 2.0% y-o-y to 613.3 million mt, according to worldsteel data. China’s April crude steel output dropped 2.8% y-o-y to 83.6 million mt, while India, South Korea, and the US recorded growth of 3.9%, 4.8%, and 9.4% respectively. EU-27 output declined 1.8% y-o-y to 11.0 million mt, while CIS production fell sharply by 13.4% y-o-y. Market participants said global steel production remains under pressure from weak demand and ongoing regional trade and geopolitical uncertainties.

According to data published by the Italian steel producers association (Federacciai), Italy's crude steel production experienced a recovery in April 2026, rising by 6.4% year-on-year to approximately 1.83 million metric tons (mt). This rebound was heavily supported by the long products segment, which posted a double-digit growth of 12.5% year-on-year to hit 1.02 million mt. Conversely, flat products output continued to face structural drag, declining by 4.2% year-on-year to 715,000 mt during the month. Cumulatively for the first four months of 2026 (January-April), Italy’s total crude steel output stood at 7.21 million mt, representing a 2.1% decrease compared to the same period in 2025.