Mild Steel News Today

Stainless steel prices stabilised after JSL cut ₹3/kg in 304 and ₹5/kg in 316L. Demand remains mixed—soft in 300 series, improving in 400, and strong in 200 due to tight imports. Globally, Asian markets remain quiet amid high inventories. Overall, the domestic outlook stays stable to firm depending on the series.

Flat steel prices remained unchanged across major regions as domestic demand held steady but cautious. Imports dropped sharply by 54% YoY, easing competitive pressure, yet buyers stayed conservative due to muted manufacturing activity. Weak export deals in Vietnam and the Middle East further weighed on sentiment, keeping the overall market stable but subdued.

Equity markets faced volatility as Hindalco and Tata Steel rose while HDFC Bank and IndiGo weighed down indices amid cautious trading.

JSW Steel Limited and JFE Steel Corporation have reached an agreement to form a 50:50 joint venture.

The government hopes to find a private buyer for the company, which technically still belongs to the Chinese group

China's acetone capacity is expanding significantly, with 910,000 tonne/year added by 2025, continuing through 2030. Slower downstream growth will widen export markets for the industry.

Jefferies has cut JSW Steel's price target to ₹1,300 from ₹1,400 earlier, while Tata Steel's price target has seen a marginal cut from ₹210 to ₹200.

Lahore, thursday, december 10, 1925.

China's coking coal imports are contracting due to steel cuts and domestic supply resilience, shifting its import dependency. Indonesia is gaining an edge in the blending market amidst this structural change.

India and Sweden launch 7 projects to decarbonise steel and cement sectors, funded by DST and Swedish Energy Agency. Initiatives include hydrogen in steelmaking, slag recycling for green cement, and AI, crucial for India's 2070 net-zero target.