Mild Steel News Today

IEEFA urges BHP's new CEO to revamp steel decarbonization strategy. Criticized for CCUS focus and delaying renewable projects, BHP's Scope 3 emissions hit 378M tonnes by FY2025, while India shifts from Australian coal.

Iron ore prices fell for a seventh week, with Dalian down 1.15% to 733.5 yuan ($107.83) and Singapore down 0.5% to $96.95. Swelling inventory (175.44M tons) and weak Chinese steel demand drove the decline.

Anti-dumping duty on CRGO steel, 90% imported, could raise transformer costs and slow India's Rs 9.15 lakh crore power grid expansion. Domestic production is only 40,000-50,000 tonnes against 4,00,000-4,50,000 tonnes consumption.

India's DGTR probes CRGO steel imports (China, Japan) for dumping. With 90% import reliance for 400,000-450,000 tonne demand, duties could sharply raise power equipment costs, impacting grid expansion.

India's domestic non-coking coal prices remain stable week-on-week due to muted steel mill demand. A slight uptick in e-auction volumes is noted, but overall subdued demand prevents price increases, with stability expected short-term.

DGTR probes anti-dumping on CRGO steel imports. India is 90% import-dependent for this power grid essential. Domestic output is 40-50k tonnes vs 400-450k tonnes annual need. Concerns rise over increased transformer costs and slowed grid expansion.

India will monitor steel imports for two months before new curbs, as May saw 0.7 million tonnes imported, making it a net importer. Chinese steel exports to India doubled in April, raising concerns despite existing tariffs.

Stainless steel prices in India remained under pressure during June 2026 as weak downstream demand, falling nickel prices, and rising imports weighed on market sentiment. While domestic mills and distributors continue focusing on cost recovery, buyers remain cautious. Increasing imports and uncertain raw material trends are expected to keep the market subdued.

IEEFA urges BHP to prioritize Direct Reduced Iron (DRI) over Carbon Capture (CCUS) for steel decarbonization, citing CCUS's high costs and low capture rates. The report highlights DRI as a leading solution, crucial for BHP's 378 million mt Scope 3 emissions.

Odisha cleared Rs 766.12 bn investment for 20 projects across diverse sectors like manufacturing, green energy, and steel. This move aims to create over 50,000 jobs and boost industrial growth.