[SMM Steel] The UK is seeking exemptions from the EU’s upcoming steel import restrictions as London and Brussels continue post-Brexit trade negotiations. The EU plans to reduce tariff-free steel quotas and raise out-of-quota tariffs to 50%, while the UK is also preparing similar measures, including a 60% reduction in tariff-free quotas and 50% tariffs above quota limits. UK Trade Minister Chris Bryant said restrictive measures between the UK and EU would be counterproductive, arguing that global overcapacity, particularly from China, remains the core issue affecting European steel markets.

According to the Brazil Steel Institute (Aço Brasil), the country's finished steel trade deficit narrowed significantly in the first four months of 2026, dropping to 425,000 metric tons (mt)—a sharp contraction compared to the 1.1 million mt deficit recorded in the same period of 2025. Cumulative finished steel imports for January-April 2026 fell by 25.1% year-on-year to 1.1 million mt, while domestic sales by Brazilian mills rose by 6.3% year-on-year to 6.3 million mt, pushing total apparent domestic consumption to 7.1 million mt. Despite the narrowing deficit, Brazil remained a net importer as exports decreased by 4.7% year-on-year to 715,000 mt, while crude steel production for the period registered a 4.2% increase to 11.2 million mt.

[SMM Steel] Tata Steel UK received an exemption from US steel tariff rules, allowing steel processed at its Port Talbot plant in Wales to qualify for the lower 25% US tariff rate applied to UK steel exports. The exemption permits products manufactured at Port Talbot to be treated as UK-origin steel even if raw materials are sourced outside Britain. Under current US trade measures, most steel imports face a 50% tariff, while UK-origin steel meeting “smelting and casting” requirements qualifies for the reduced tariff rate.

[SMM Steel] South Africa increased import tariffs on selected steel products to 10-30%, up from previous levels of 0-15%, covering flat steel, non-alloy steel, bars, wire rod, pipes, and tubes. The government said the measures aim to support local steelmakers facing weak demand and rising import pressure, following operational challenges and plant closures at ArcelorMittal South Africa. Authorities added that the tariff hikes are intended to give domestic mills time to restructure and improve competitiveness, while certain preferential trade arrangements and downstream rebate policies will remain in place.

The European Parliament has officially approved a sweeping and permanent steel trade protection framework, passed by 606 votes in favor to 16 against, designed to safeguard the domestic sector from global overcapacity ahead of the June 30, 2026, expiry of temporary safeguards. Set to enter into force on July 1, 2026, the regulation mandates a drastic 47% reduction in tariff-free steel import quotas compared to 2024 levels, setting a rigid ceiling of 18.3 million metric tons (mt) annually. Furthermore, any import volumes exceeding these specific limits or consisting of steel grades not covered by the quotas will face a punitive 50% customs duty, doubling the previous 25% penalty. T

[SMM Steel] Ukraine’s steel industry warned that the EU’s planned steel safeguard revisions could significantly reduce the country’s export revenues and damage its wartime economy. Under the new measures effective from July 1, the EU plans to cut steel import quotas by 47% and impose a 50% tariff on out-of-quota volumes. Ukrainian steelmakers said the restrictions could sharply limit access to their largest export market, as Ukraine exported around 2.65 million mt of steel to the EU last year. Industry sources estimated the proposed quota reductions could cut export volumes by around 70% and result in up to €1 billion in lost export revenues.

[SMM Steel] SEAISI expects ASEAN steel demand to continue improving in 2026, with apparent steel consumption forecast to reach 87.9 million tonnes, up 2.6% YoY and 8.2% higher than 2024 levels. ASEAN steel imports remained high at around 50 million tonnes in 2025, while import penetration stayed above 60%, continuing to pressure local producers. Vietnam remained the region’s strongest growth market, with steel demand rising over 21% in 2024. SEAISI also warned that the Iran conflict could create energy-related risks for ASEAN steel markets, as the region remains heavily dependent on Middle Eastern energy supplies. Meanwhile, ASEAN steel exports are expected to remain elevated at around 22 million tonnes in 2025, supported by Indonesia’s expanding HRC capacity.

China's steel billet exports performed strongly in Q1 2026, showing a continuous growth trend. According to data from the General Administration of Customs, China's steel billet exports in March 2026 reached 1.53 million mt, up 66.0% MoM and up 47.9% YoY, hitting a record high for a single month in the same period in recent years.

[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.

[SMM Steel] Vietnam imported 1.43 million mt of steel in April 2026, up 14.8% from March, according to Vietnam Customs data. Scrap imports also increased 15.3% MoM to 641,118 mt. In the January-April period, Vietnam’s steel imports totaled 5.04 million mt, down 1.2% YoY, while scrap imports rose 4.6% YoY to 2.13 million mt.