Mild Steel News Today

China's PP industry anticipates an additional 22 million t/y capacity from 2026-2030. Despite a slower growth rate, supply pressure will persist as downstream capacity lags, impacting the market.

Jindal has announced a price increase effective 22 January 2026 across multiple stainless steel grades. JT CR and 430 HR CR prices have been raised by ₹1.5/kg each, while 304 HR CR has seen a hike of ₹2.5/kg. 316 HR CR recorded the highest increase at ₹4/kg. Additionally, prices of 204 CU have increased by ₹2/kg, and 400 series grades have been revised upward by ₹1/kg.

Andhra Pradesh CM Naidu prioritizes 'speed of doing business' to attract investments. Key projects include a 1-gigawatt data centre, Rs 96,000 crore petrochemical complex, Rs 1.35 lakh crore steel plant, and a USD 12 billion renewable energy partnership, securing UAE investment.

SAIL and GAIL signed a 5-year natural gas supply pact, effective November 2027, for cleaner steel production at SAIL's Burnpur plant. This supports expansion, improves efficiency, and reduces carbon emissions, aligning with India's green manufacturing goals.

Indian steelmakers face domestic iron ore supply challenges despite abundant reserves. Degrading quality, auction issues, and high premiums deter access, as discussed at a Jan. 16 conference.

Jindal Stainless's exports fell to 5.4% of sales in Q3 due to US/Europe policy uncertainty, including CBAM. Customers' indecision, despite JSL's readiness, impacts orders, especially in key markets accounting for 75% of exports.

US iron and steel scrap exports fell 20.2% month-on-month in September 2025 to 888,761 mt, valued at $413.2 million. Turkey was the top buyer, with India also a notable destination.

China's December stainless steel exports surged to a record 485,000 tons, up 19.7% MoM and 4.2% YoY. Full-year 2025 exports exceeded 5 million tons, a 0.3% increase. Imports also rose to 145,000 tons.

Iron ore futures fell for a fourth consecutive session on Tuesday. An accident at a Chinese steel factory triggered concerns over demand for the steelmaking ingredient, leading to the price drop.

India's core industries expanded 3.7% in December, fastest in four months, led by cement (13.5%), steel (6.9%), and electricity (5.3%). Crude oil and natural gas contracted. April-December growth was 2.6%.