Mild Steel News Today

India’s stainless steel market moved higher amid a sharp rise in LME nickel prices and tightening global alloy supply. While domestic demand from infrastructure, railways, and automotive sectors remains supportive, cautious buying sentiment and rising Chinese imports continue to pressure market activity. Stainless steel prices in India are expected to remain firm near term.

Sanctions on Iran's steel and petrochemical industries are projected to cause significant economic repercussions. This initial evaluation forecasts disruptions, job losses, GDP pressure, and inflation, straining the national budget and impacting related sectors.

West Bengal's new industrial strategy aims to revive manufacturing in steel, engineering, textiles, chemicals, logistics, and MSMEs. It prioritizes cluster-based growth, land repurposing, and infrastructure to boost employment and regional supply chains.

China's May PP output is forecast to rise 6.89% MoM to 3.015 mln tonnes, with capacity utilization recovering to 65.94%. This signals a gradual supply recovery, despite high cost pressures impacting some production routes.

China's sulfuric acid prices hit a yearly high in May 2026, surging 80.57% year-on-year to Yuan 1,780-2,100/t. This sharp increase was driven by severe supply tightness caused by widespread plant maintenance.

Airfloa Rail Technology secured a ₹92.08 lakh Integral Coach Factory contract for nine stainless steel nose cone sets, boosting India's rail component supply race. This reflects growing demand for suburban mobility and electrification upgrades.

The Australia coal market is projected to reach 224.8 Million Tons by 2034, growing at 1.64% CAGR (2026-2034). Driven by Asian demand, especially India's steel sector, and strategic investments, production is forecast to increase 3.9% in 2026, with AI boosting efficiency.

UAE, the third-largest OPEC producer, exited OPEC+ on May 1, 2026, planning to ramp up production. This caused WTI crude to tumble below $100/barrel, signaling a major shift in global oil supply dynamics.

Iron ore futures rose after China's holiday, with Dalian up 2.33% to 812 yuan/ton and Singapore up 1.19% to $109.8/ton. Demand is expected to pick up due to construction and furnace restarts, despite high imports and weaker steel consumption.

India's steel output rose 5.8% to 14.09 MT in April 2026, driven by 8.1% demand growth. Finished steel production increased 3.4% to 13.05 MT. Prices recovered, and capacity expanded towards 300 MTPA, maintaining a positive outlook.