Mild Steel News Today

Steel rebar futures held steady above CNY 3,130/ton, near six-week highs. Chinese steel output declined 3.6% to 160 million tons in two months as mills cut production due to weak demand.

Stainless steel prices strengthened following mill hikes and rising nickel costs. Demand for the 300 series remains stable with selective shortages, while the 200 series continues gaining traction due to limited imports. Energy supply disruptions linked to geopolitical tensions may impact production and keep stainless prices firm.

Odisha CM Mohan Charan Majhi reviewed large-scale industrial projects in Paradip, directing officials to accelerate implementation and resolve issues. He emphasized Paradip's transformation into a major economic zone, prioritizing local employment in upcoming port, petrochemical, and steel projects.

Chhatrapati Sambhajinagar industries demand ₹5/unit power tariff cut, loan moratorium, and aid due to rising production costs and West Asia crisis impacting fuel supplies, affecting automobile, engineering, pharma, and steel sectors.

An Australia-India partnership successfully trialed using 5-10% rice husk pellets in steelmaking, replacing coal without performance loss. This world-first could cut India's steel sector emissions by up to 50% (357 million tonnes CO₂/year), accelerating green steel production.

West Asia crisis and LPG shortages hit India's stainless steel industry, causing lower production, higher raw material costs, and logistics disruptions. Plants operate at rationalised capacity, impacting profitability, with fuel/power accounting for 5-8% of topline.

The government is re-evaluating plans to float tenders for 1 GW wind energy projects. Rising steel prices have reduced bidder interest, prompting the MNRE to engage with the World Bank for a new investment roadmap.

India's steelmakers face "double trouble" from the West Asia conflict: 5% higher input costs due to disrupted limestone/propane supplies and a risk of 1.5 mt cheaper steel imports. Industry seeks government intervention.

Gas supply cuts, rupee depreciation, and rising import costs are forcing many Indian steel companies, particularly smaller ones, to cut production by up to 50%, impacting margins and operations.

JSW Steel announced a coking coal mining project in Mozambique with 850 MT reserves, aiming for 250 MT usable coal. The first phase targets 2.4 MTPA in 2.5 years, enhancing raw material supply for Indian steel plants and supporting decarbonization.