[SMM Steel] India is considering a phased mandate for green steel in public procurement. The CII reports that a 26% low-carbon commitment could unlock 16 million tons of green steel supply by FY 2029/2030, provided the government offers cost-reimbursement mechanisms like price premiums or VAT exemptions.

Recently, this aluminum alloy product was officially launched by Shri Anil Kumar Singh, Commercial Director of National Aluminium Company Limited (NALCO), in the presence of senior officials at the Kolkata stockyard. IA91 is a high-performance silicon-based cast alloy designed to provide the optimal balance among castability, mechanical strength, and corrosion resistance. The product was officially launched by Singh in the presence of senior officials at the NALCO warehouse in Kolkata, India. The product is specifically designed for advanced casting applications and is ideally suited for gravity die casting and low-pressure die casting, with primary applications in the automotive, electrical and power equipment, industrial sectors, and foundries.

[SMM Tungsten Express] As of March 5, SMM data shows European tungsten scrap drill tips quoted at €95-105/kg, averaging €100/kg, up 8% from February 26; European scrap carbide blades at €97.5/kg. Indian FOB scrap drill tips at $125-140/kg, up $20 from last week; scrap carbide blades FOB at $110-125/kg.

In January 2026, the European Union and India reached a historic Free Trade Agreement (FTA), with the elimination of steel tariffs of up to 22% becoming a major market focus. However, clearing the policy fog of "bilateral exemptions" and analyzing actual export and carbon emission data reveals that the steel industry faces a highly asymmetric trade reshaping. This seemingly fair reduction is actually Europe trading a "capped" ticket for India's "uncapped" massive incremental market.

Japan is currently in talks with India on jointly exploring rare earth mineral deposits in Rajasthan. The Japanese government intends to dispatch experts to the site and is expected to provide mining technology support to Rajasthan.

Following the conclusion of the India-EU FTA in late January 2026, tariffs on iron and steel products—previously as high as 22%—are set to be eliminated across almost all tariff lines. This agreement aims to integrate Indian suppliers more deeply into European value chains, although exporters must still navigate the newly enforced Carbon Border Adjustment Mechanism (CBAM).

[SMM Chromium Daily Review: Quotes Continued to Rise, Strong Willingness to Hold Prices Firm] News on March 5, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia rose by 50 yuan/mt (50% metal content) MoM from the previous trading day...

[SMM Weekly Magnesium Review: The Short-Term Volatile Pattern in the Magnesium Market Remained Unchanged, with Downstream Resumption and Geopolitical Developments Becoming Key Variables] This week, the domestic dolomite market held steady, with the supply side showing regional structural divergence: top-tier enterprises in the Wutai area halted production, while other major producing regions replenished capacity in a timely manner, keeping overall national supply broadly stable. On the demand side, operating rates at primary magnesium enterprises in Shaanxi, Shanxi, and Inner Mongolia remained stable, rigid demand was released in an orderly manner, and raw material inventory was ample, reinforcing the foundation for market stability. The domestic magnesium ingot market consolidated at high levels, the tug-of-war between sellers and buyers intensified, and prices fluctuated rangebound. On the supply side, support came from costs and tight spot cargo, enterprises showed strong reluctance to sell, low-priced supply was scarce, and bargaining room was extremely limited. On the demand side, both domestic and overseas demand were weak: in domestic trade, downstream buyers only restocked for rigid demand and purchasing intensity was relatively weak; in export markets, escalation in the Middle East situation disrupted shipping and pushed up ocean freight rates, export shipments were suspended, overseas purchasing plans were delayed, and amid the supply and demand stalemate, prices lacked momentum for a one-way move. The export market for magnesium ingot was hit by fluctuations in ocean freight rates and international developments, with strong wait-and-see sentiment across the industry, weak transactions, and rising uncertainty. The magnesium powder market, supported by raw materials, stayed stable with slight adjustments, mainly fulfilling earlier orders; new orders were few, and both domestic and export markets remained cautious. The magnesium alloy market held up well: magnesium ingot and aluminum ingot prices reinforced cost support, enterprise operating rates rebounded slightly, and demand recovered as downstream die-casting plants gradually resumed operations. Market transactions were mild, and prices were expected to remain largely stable in the short term.

[SMM Analysis: What Impact Does the Middle East Situation Have on the Recycled Copper Raw Materials Market?] Recent turbulence in the Middle East has once again rattled global commodity markets. However, zooming in on the recycled copper raw materials segment, the market has remained remarkably calm. This article examines the trade structure and supply-demand dynamics to explain why the Middle East situation has, in practice, a relatively limited impact on Asia's scrap copper market.

[SMM Daily Chrome Review: Ore-Side Uptrend Continued, with Cost Support for Ferrochrome] News on March 4, 2026: The ex-factory price of high-carbon ferrochrome in Inner Mongolia was flat MoM from the previous trading day…