Mild Steel News Today

The coking coal index rose to $269/t CNF Paradip, up $1 w-o-w, driven by global cues despite slow Indian steel demand. Prices are expected to exceed $270/t CFR due to limited supply and rising freight ($24.8/t). Imported met coke also firmed to $313/t.

Evonith Steel acquired Indrajit Power Pvt Ltd (IPPL) for ₹232 crore through an insolvency process. This 85 MW thermal asset in Maharashtra will support Evonith's 1.4 million tonne plant, with NCLT approval on April 20.

OECD warns global steel crisis deepens due to alarming oversupply and subsidised production, mainly from China. This distorts markets and pressures producers in Europe and other OECD economies.

India's steel pipes and tubes market remains stable, supported by infrastructure, energy, and industrial demand. Domestic manufacturers continue expanding capacities and developing high-value products, while rising imports of seamless pipes from China remain a key concern. Trade protection measures and energy sector demand are expected to influence market direction.

Stainless steel prices in India remained firm, supported by healthy demand from infrastructure, engineering, and manufacturing sectors despite rising imports and global market uncertainty. Meanwhile, China's stainless steel market weakened due to ample supply and sluggish demand. Falling inventories and stable mill pricing continue to provide support to domestic prices.

Tata Steel targets 9% India sales growth this fiscal, driven by 5 million tonne Kalinganagar expansion. The company also aims to fully repay overseas bonds, strengthening its balance sheet and reducing overseas debt from 50% to 18%.

Kolkata's steel industry faces pressure to cut carbon emissions due to global climate goals. Transitioning to green steel is vital for competitiveness, despite high costs and coal reliance, with government incentives being explored for this crucial shift.

Nara Lokesh invited Russian investors to Andhra Pradesh at SPIEF 2026, pitching $4 billion space ecosystem plans, including a 3,000-acre Tirupati space city. He also sought investments in steel, manufacturing, and advanced technologies, aiming for long-term partnerships.

India's steel sector faces a green reckoning, driven by climate targets and EU carbon levies. Investing ₹347 crore in hydrogen pilots and promoting green public procurement, it aims to cut emissions, targeting 300 MTPA by 2030.

Vedanta's iron ore and steel business cut 2.5 MT carbon emissions in five years. Initiatives include EVs, 100 MW waste heat recovery avoiding 2.4 MT CO2, barge logistics saving 28,900 tonne CO2, and planting 7.5 lakh trees, demonstrating a strong commitment to sustainability.