Mild Steel News Today

India’s steel market continues to face pressure from oversupply and muted trade sentiment, with both flat and long products extending losses through October. While post-festive demand could offer short-term relief, structural challenges such as inventory overhang and global surplus are expected to keep prices subdued in the coming quarter.

TMT bar prices across major regions - Mumbai, Delhi NCR, and Vizag - remained steady amid continued demand weakness and sufficient inventory. Despite subdued construction activity and raw material constraints, manufacturers are maintaining price stability. Market sentiment remains cautious, though medium-term prospects hinge on infrastructure and housing demand recovery.

Thailand investigates 10 Chinese producers for circumventing anti-dumping duties (3.05-37.54%) on galvanized cold rolled steel by exporting ZAM coated steel. The Department of Foreign Trade will decide on expanding duties.

Domestic steel prices have plunged to a five-year low of ₹47,000-48,000/tonne, driven by surging imports (0.79 MT in Sept 2025) and weak exports. Mill margins are pressured by high raw material costs, with subdued prices expected near term.

Thyssenkrupp Steel head, Dennis Grimm, resigned amid intensifying sale talks with India’s Jindal Steel International. His departure, effective August 30, 2024, follows reported differences with CEO Miguel Lopez as Jindal deepens due diligence this week.

Additional styrene units push up total capacity to around 23.52 mln t/y. China's total styrene capacity continued to increase in the month, thanks to operations of newly-added units, but the further rising supply destroyed producers' profits, and the product imports are anticipated to drop in the remaining days.   Though PetroChina Jilin Petrochemical's 140,000 tonnes/year styrene unit was phased out, the total capacity.

China's methanol inventory is surging due to robust supply from rebounding domestic production and high imports, compounded by weak demand from reduced downstream olefin plant operations and overall low consumption.

Construction steel maintenance impact slightly decreased to 1.3021 million mt (down 36,600 mt WoW) as mills resumed. Demand improved, but high inventory and firm costs kept prices rangebound. Sideways prices expected, with maintenance impact possibly increasing.

Metso secured a EUR 32M order for SAIL's third iron ore sintering plant in India, part of a 4MTPA expansion. The 2.67 MTPA plant, operational by 2029, features EOS technology, cutting 54,000 tonnes CO2 annually for sustainable steel production.

India's coking coal imports rose 6% q-o-q to 16.9 mnt in Q2FY'26, driven by steady steel mill demand. Australia and Russia supplied 73%. Imports also increased 20% y-o-y. Prices remained stable, with future procurement expected to rise.