Inter-product price spreads are a segment of the rebar spread system characterized by complex logic and abundant trading opportunities. Unlike the spot-futures price spread, which reflects the spot-futures structure, and calendar spreads, which reflect near- and far-term expectations, the core of inter-product price spreads lies in macroeconomic structural adjustment and profit distribution across the industry chain. From the perspective of the industry chain, inter-product price spreads for long steel products are mainly concentrated in the following four areas:

According to the U.S. Patent and Trademark Office on the 30th, Samsung SDI has filed for and is in the process of securing a patent for a composite anode material. The patent, titled “Composite anode active material and anode and lithium secondary battery including the same,” was originally filed on July 10, 2020, and was published on March 24. It covers an anode material combining graphite with an average particle size (D50) of approximately 18μm or larger, graphite of around 10μm or larger, and a silicon-carbon composite. The technology focuses on enhancing structural stability and extending battery lifespan by densely filling the electrode with graphite particles of different sizes.

According to market research, European stainless steel producers successfully lifted prices in March, driven by rising scrap costs, volatile energy prices, and limited import competition. Transaction prices for grade 304 cold-rolled coil reached an 18-month high as all European producers implemented month-on-month increases. Domestic mills are seeing improved order books, with lead times now extending into June and some delivery delays reported, particularly for ferritic materials. Producers are targeting further increases for July production, with some offers for grade 304 cold-rolled sheet already around $2,916/mt (EUR 2,700). Market participants note that mills aim for a target selling price of approximately $3,240/mt (EUR 3,000) in the coming months.

On March 26, the 580,000 mt aluminum construction project of Wanji Aluminum Industry (Xinjiang) Co., Ltd. commenced. It is understood that the project adopts an EPC model integrating design, procurement, and construction, with a total investment of approximately 4.595 billion yuan, and is expected to be completed and commissioned in July 2027. Upon completion, the project will become a modern aluminum production site integrating green production, intelligent management and control, and full-chain supporting facilities, improving the entire industry chain from alumina and aluminum to deep aluminum processing.

ELQ has announced an investment of up to €2.5 billion to build up to 2 GW of new energy infrastructure in Ukraine. Supported by US and Arab partners, construction of the initial installations will begin in Q2 2026. Sołtysiak stated the company refuses to wait for the war to end, aiming to actively participate in the first phase of rebuilding Ukraine's heavily damaged power grid. The initiative aligns with broader recovery efforts, including a February 2026 World Bank estimate placing Ukraine's decade-long reconstruction costs at $588 billion, and a July 2025 EBRD mechanism to mobilize €1.5 billion for new renewables. Through its newly registered subsidiary, ELQ UKRAINE, the firm plans to supply autonomous energy to critical social infrastructure like schools and hospitals.

【SMM Steel】The UK published its Steel Strategy on Mar 19, 2026, to revitalize domestic production, prioritize recycled scrap, and shift to EAFs. The plan aims to raise output from ~30% of demand to 40-50% and includes up to £2.5bn in support. A Scrap Working Group will be set up by May 2026. New trade measures, including up to 50% tariffs on excess imports, take effect from July 2026.

The UK government has supported over 780 solar projects since July 2024, ranging from school rooftops to utility-scale power plants. Recent data reveals 8.1 GW secured backing through the 'contracts-for-difference' ('CfD') scheme across the sixth and seventh allocation rounds. An additional 2.7 GW gained approval via the 'National Significant Infrastructure Project' ('NSIP') stream, including the massive 600 MW Cottam Solar Project. Furthermore, 'Great British Energy' and the Community Energy Fund have backed hundreds of distributed installations, while the state-owned National Wealth Fund is injecting hundreds of millions of pounds into gigawatt-scale 'BESS' deployments to support the growing renewable grid.

France's energy regulator, 'CRE', has published reduced Feed-in Tariff ('FIT') and surplus compensation rates for PV systems up to 100 kW, effective April 1 to July 1, 2026. Tariffs fell to €0.805/kWh for 9-36 kW systems and €0.70/kWh for 36-100 kW systems, while the surplus rate dropped to €0.473/kWh. With compensation for systems under 9 kW already eliminated, the 'CRE' is simultaneously offering investment grants to encourage a market shift toward maximizing self-consumption, integrating storage, and electrifying on-site demand rather than selling surplus power.

According to Bloomberg, the UK government defended its decision to hike out-of-quota steel import tariffs from 25% to 50% and slash import quotas by 60%, effective July 1. Trade Minister Chris Bryant argued the measures are crucial to shield the ailing domestic steel industry from "artificially low prices" driven by cheap imports, especially from China, and global tariff wars. Prime Minister Keir Starmer's administration insists these targeted protections are vital for maintaining a level playing field. Without such interventions, the UK risks losing thousands of jobs and becoming the only G7 nation without primary steel-making capabilities, following last year's state intervention to rescue British Steel.

The European Commission will update Emissions Trading System (ETS) free allocation benchmarks and utilize the Market Stability Reserve to curb carbon price volatility "within days". President von der Leyen announced a medium-term ETS review to establish a "realistic trajectory" for free allowances beyond 2034. The EU is also proposing a $35 billion "ETS Investment Booster" fund to finance decarbonization projects, prioritizing lower-income states. To address soaring energy costs, the Commission plans to allow member states to reduce grid charges for energy-intensive industries and mandate lower taxes on electricity compared to fossil fuels. This follows intense pressure from steelmakers and EU nations demanding an urgent ETS overhaul by July.