Mild Steel News Today

Stainless steel prices in India remained under pressure during June 2026 as weak downstream demand, falling nickel prices, and rising imports weighed on market sentiment. While domestic mills and distributors continue focusing on cost recovery, buyers remain cautious. Increasing imports and uncertain raw material trends are expected to keep the market subdued.

IEEFA urges BHP to prioritize Direct Reduced Iron (DRI) over Carbon Capture (CCUS) for steel decarbonization, citing CCUS's high costs and low capture rates. The report highlights DRI as a leading solution, crucial for BHP's 378 million mt Scope 3 emissions.

Odisha cleared Rs 766.12 bn investment for 20 projects across diverse sectors like manufacturing, green energy, and steel. This move aims to create over 50,000 jobs and boost industrial growth.

Indian stainless steel MSMEs urge QCO reinstatement after imports surged 69% MoM to 101,252 MT in April 2026, threatening jobs and investments. Cheap Chinese imports followed the QCO suspension, pressuring domestic manufacturers.

A snapped mild steel bolt on Bengaluru's Namma Metro's third rail caused a major disruption, closing eight stations and reducing ridership by 60,000. Officials are investigating the rare incident, the first in 16 years, to prevent recurrence.

Utility Global's H2Gen, producing hydrogen from industrial off-gases without electricity and capturing CO2, offers India's steelmakers a cost-effective decarbonization path, supporting 2045 net-zero and 5MT green hydrogen by 2030.

BHP's steel decarbonization strategy, prioritizing CCUS and met coal, is criticized as ineffective, with Scope 3 emissions hitting 378 Mt by FY2025. A new CEO on July 1st could shift focus to DRI technology.

India will monitor steel imports for two months before deciding on further curbs, primarily from China. May saw 0.7 million metric tons imported, while 0.5 million metric tons were exported, raising concerns among domestic producers.

Mumbai's Sion Road Over Bridge upgrade achieved a milestone with a 500-tonne steel span installation. This supports adding fifth and sixth railway lines, enhancing rail capacity, and restoring vital road connectivity, improving urban mobility and infrastructure.

India steel prices today remained under pressure as elevated inventories and cautious buying sentiment weighed on the longs segment. Rebar prices fell to multi-month lows, while HRC prices in India stayed largely stable due to resilient manufacturing demand. Softening raw material costs and monsoon-related demand weakness continue influencing market direction.