Mild Steel News Today

Chinese steel rebar futures hit CNY 3,150/tonne, nearing a five-month high of CNY 3,160 seen on January 7th. This surge is driven by improved financial outlook for property developers, boosting ferrous metal demand.

DCE iron ore prices rose 1.78% to 798.5 yuan/mt, with spot prices up 5-10 yuan. Despite the slight rebound, market transactions remained sluggish as steel mills purchased cautiously, leading to a quiet trading atmosphere.

A 100-meter, 1,098-tonne 'Make in India' steel bridge, using 45,186 high-strength bolts, was completed over Ahmedabad's metro tunnel for the Bullet Train project. This 13th bridge was assembled 16.5m high, showcasing engineering prowess.

NMDC is exploring Canadian coal reserves to boost India's steel manufacturing capacity and secure critical raw materials. This strategic move aims for sustainable industrial development and strengthens India-Canada cooperation.

India's steel output grew 11.7% (crude) and 10.8% (finished) in Apr-Oct FY26, with 7.8% consumption rise. However, global price disparities cause margin compression, making India a net importer. Government initiatives target self-reliance.

India has officially designated coking coal as a critical and strategic mineral. This move highlights its importance for the nation's industrial sector and future economic development.

JSW Neo Steel has increased TMT bar prices by ₹1,500 per metric tonne, effective immediately. This hike is driven by firm demand and rising input costs, pushing up domestic construction steel prices and procurement costs for buyers.

US actions on Venezuelan crude reshape trade, boosting aframax/suezmax. China's coal import drop hurts capesizes, but India's steel growth lifts coking coal. Container rates fall sharply pre-Lunar New Year amid capacity surge.

Iron ore prices remain weak despite a slight afternoon rebound in DCE futures, which closed at 788 yuan/mt, down 0.51%. Spot prices rose 2-3 yuan, with a slightly improved trading atmosphere.

Indian HRC and CRC prices remained unchanged across major markets as stable demand met expanding supply. Structural demand from infrastructure, construction, and manufacturing continues to grow, but rising domestic capacity and cautious buyer behavior are limiting price upside. The market remains balanced to mildly oversupplied.