Mild Steel News Today

Stainless steel prices in India remained firm as global nickel and copper prices stayed elevated and the rupee weakened against the US dollar. Demand for 200 and 400 series improved, while 300 series demand remained subdued due to higher prices. Market participants expect prices to remain firm amid geopolitical uncertainties.

Intense construction of a steel flyover and underpass has narrowed traffic between Jubilee Hills and KBR Park to a single lane, causing severe congestion on routes handling over 15,000 vehicles hourly.

The global grid support frame structures market is projected to grow at a 9-13% CAGR through 2035, driven by BESS expansion, renewable integration, and grid modernization, reaching an index of 280.

The global structural steel racking components market is projected to grow at 8-11% annually, reaching an index of 250 by 2035, driven largely by the utility-scale battery storage boom.

India's rebar market strengthened due to rising DRI and scrap prices, driven by higher coal costs. Primary rebar is INR 49,000-52,000/tonne, while secondary rebar in Raipur is INR 43,500-44,500/t, though rolling margins face pressure.

TMT steel prices strengthened across major Indian markets as improving primary-market demand, tight distributor inventories, maintenance-related supply constraints, and rising fuel costs supported seller confidence. With mills carrying substantial order backlogs and buyers actively seeking additional volumes, market sentiment remains firm, keeping prices elevated and supply availability constrained in the near term.

The global coking coal market faces short-term volatility due to Chinese mine safety inspections and steel output dips. Meanwhile, Indian crude steel production is expected to rise 9.3% in 2026.

BCCL plans to expand its coking coal beneficiation capacity to 56.23 MTPA by FY31, shifting focus to usable low-ash coal to reduce import dependence and support India's steel industry.

Industry associations have sought a 10-year fuel supply agreement for 5 million tonnes of coal from local mines to secure fuel for West Bengal's steel sector, citing poor quality of current supplies.

Indian steel mills face margin pressures as premium coking coal prices jumped 25% to average $236 per metric ton, driven by supply disruptions and rising transport costs, threatening capacity expansions.