Mild Steel News Today

During May's third week, India's secondary steel market initially struggled but later saw price surges due to improved demand. Primary steel market remained stable with ongoing firm prices. Raw material prices held strong, while ferroalloy prices dipped before stabilizing.

Price stability in South India's ferrous scrap market post yesterday's dip. Demand steadied with no visible supply constraints, albeit with suboptimal cash flow. Mixed trends in South Asia's imported scrap market: Indian buyers are active with declining prices. Anticipates stable domestic prices today.

Price stability prevailed in the primary TMT market in May's third week. Demand for primary portions decreased, yet supply remained steady. Mills initiated negotiations for larger quantities amid anticipated price declines. Coking coal supply to RINL Steel Plant resumed post-strike, marking progress.

Today's secondary TMT prices remain stable in various regions. Market stability continues, with average demand expected by week's end. However, fresh inquiries for secondary plants are dwindling due to material availability concerns. In north India, pig iron prices surged, indicating growth prospects.

Price in flat steel markets remains unchanged. Increased demand, influenced by phased procurement strategies, prompts strategic price adjustments by integrated steel mills. Ongoing discussions on safeguard tariffs reflect proactive market response. Anticipated delicate balance amid evolving market dynamics and responses.

In India, secondary structural steel prices fluctuate amid volatile market conditions influenced by sponge iron and billet movements. Meanwhile, primary segment prices stabilize. Challenges persist in supply due to seasonal factors and maintenance works, maintaining a supportive market outlook.

Price in South India's Chennai market dropped by Rs. 500/ton across all categories. Current prices: Godown Grade Rs. 34,800/ton and Commercial Grade Rs. 32,800/ton. Sluggish demand for finished goods persists, affecting MS scrap prices. Turkey and South Korea's scrap imports affected.

Today's Secondary TMT prices vary across regions. The market is on an uptrend with manufacturers raising prices. New inquiries are moderate, but material availability and raw material supply are concerns for many secondary plants. Anticipated sustained support for the secondary market.

Price stability persists in flat steel markets. Demand remains active amid rising input costs. Steel mills adjust prices to stimulate local demand. The government discusses safeguard tariffs. Optimistic outlook for steel industry with projected demand and price growth.

Demand slow in primary segments while supply streamlines with sufficient material in a few major mills. Prices are expected to decline slightly; some mills negotiate for larger orders. Indian steel fears Chinese influx post-US tariffs, despite pleas for government action.