Stainless Steel News Today

China's steel sector will tackle 'involution-style' competition through strict crude steel output controls and new capacity governance. Efforts aim for better supply-demand balance via government, industry, and enterprise coordination.

A ₹10,000 crore steel investment near Nagpur signals an economic shift, boosting employment and industry. However, it raises concerns about environmental impact, pollution, and the urgent need for sustainable urban planning and infrastructure upgrades in the region.

China's phenol-acetone capacity fell to 77.30% by April 15 due to plant maintenance, tightening supply. Low port inventory of 33,000 tonnes supports prices, with market direction hinging on imported cargo arrivals.

China's ammonium chloride capacity, over 6.90 million tonnes, faces pre-May maintenance, tightening supply. Prices rebounded post-Spring Festival, rising 32.78% (Yuan 165.90/tonne) by mid-April due to demand and global fertilizer prices.

China's propylene operating rate is expected to drop to 65% in April due to Middle East conflict. The composite rate fell to 66.97% by April 15, a 6.70 percentage point decline from pre-conflict levels.

Steel rebar futures surged past CNY 3,090/ton, hitting a two-week high. This rise is attributed to strong seasonal demand and increased restocking by end users, signaling a robust market.

India and Mongolia are advancing talks for coking coal trade, aiming to diversify India's 85% import-dependent steel sector. This partnership seeks to secure stable supplies, reduce risks, and support India's rapid infrastructure growth despite logistical challenges.

India revised low-grade iron ore pricing norms to promote utilization and reduce wastage. This aims to ensure steady raw material supply for the steel industry, addressing high-grade reserve depletion.

Stainless steel prices remain firm, supported by stable raw material trends and consistent demand across segments. The 300 series shows steady demand with minor shortages, while the 400 and 200 series are witnessing improving consumption. Limited imports are supporting domestic prices. Recent price hikes by JSL further reflect positive sentiment, with the market expected to remain stable to strong in the near term.

China's synthetic ammonia prices rose 47% in early April. This surge was driven by tight Middle East supply due to instability and domestic maintenance-related shortages.