Steel and steel raw materials

European buyers were still seeking Ukrainian steel despite the recent rollout of the EU’s Carbon Border Adjustment Mechanism, but constraints on production during wartime were preventing mills from fulfilling the demand, the industry said.

Vingroup Corp subsidiary VinMetal and UK-based Primetals Technologies have signed a memorandum of understanding (MoU) on Thursday May 7 to cooperate on the development of VinMetal’s high-tech integrated steel complex in Vietnam’s Ha Tinh province, according to local media reports.

A developing El Niño weather pattern is drawing fresh attention across European metals markets at a moment when the continent‘s energy infrastructure is already under acute stress – and for producers and traders in secondary aluminium and ferrous scrap, the implications are hard to ignore.

South Korea has stepped up its efforts to support its steel sector, amid escalating tensions in the Middle East and tariff pressures elsewhere, by including the sector in a $54 billion support package for key industries in the country, Fastmarkets understands.

In this short episode of Fast Forward, Alex Kershaw, senior analyst for steel, raw materials and ferrous scrap at Fastmarkets, unpacks the recent volatility in global scrap steel markets and what is driving price movements across key regions.

As Brazil implemented protective measures against Chinese flat steel — enforcing anti-dumping duties on cold-rolled coil, coated steel, and pre-painted steel sequentially since early 2026 — China’s monthly exports of finished steel to the country declined to their lowest levels since 2024, significantly reducing a market that previously consumed over 400,000 tonnes per month.