India–EU FTA sets 1.64 Mt steel quota; CBAM still applies

GMK Center, 15 Sep 2026: India will be able to export 1.64 million tonnes of steel per year to the EU under the FTA. This note maps that event onto industrial & structural steel products. Use only figures and dates that appear in the sourced headline. Not a BGK offer.

What to check on the cargo

• Use only figures and dates that appear in the sourced headline. Do not invent an FOB/CFR.

Headlines with dated events or figures

• GMK Center, 15 Sep 2026: India will be able to export 1.64 million tonnes of steel per year to the EU under the FTA (1.64 million) — Source

Market context — not the story

Screen	Last	Change	Source	As of
CME Midwest HRC	$1,269.00/st	+2.84%	CME via Yahoo Finance	17 Sep 2026
Vale (iron-ore equity) Listed proxy, not a spot ore print.	$14.47	-5.30%	NYSE via Yahoo Finance	17 Sep 2026
VanEck Steel ETF Basket of listed steel names.	$108.37	-0.24%	NYSE Arca via Yahoo Finance	17 Sep 2026

These are public exchange or listed-proxy screens, not BGK offer prices. Cite the source before using a number in a negotiation.

How to apply it to a cargo

• Midwest HRC last $1,269.00/st (+2.84% d/d). A $30/st move on a 10,000 st parcel is about $300,000 before freight.
• USD/VND 26,009 VND (+0.34%). A Vietnamese mill paying in dong sees the local bill move even if the dollar invoice is unchanged.
• Vale at $14.47 (-5.30%) is an equity proxy for iron ore, not a 62% Fe index print — use it for direction, not for a contract.

Map the screen to a real parcel through Industrial & Structural Steel Products and, where freight dominates the landed bill, vessel chartering or cargo logistics.