Stainless Steel News Today

India's coking coal index held at $266/t CNF Paradip on May 15, 2026, near a three-month high, supported by higher freights and tight supply. Met coke was stable, rebar declined. Prices may inch up.

On May 11, Korea's Trade Minister Yeo Han-koo met EU Commissioner Maros Sefcovic in Brussels, urging caution on steel import quotas. Korea conveyed industry concerns regarding the EU's restrictive measures.

TMT bar prices in India remained largely stable this week amid balanced demand from infrastructure and real estate sectors. Primary TMT prices witnessed steady bookings, while secondary TMT markets saw selective buying due to regional price variations. Raw material fluctuations and project-led demand continue to influence near-term market sentiment across India.

Steel rebar futures dropped towards CNY 3,200 per ton, retreating from nine-month highs. This decline is attributed to an anticipated seasonal slowdown in demand and softer downstream consumption, impacting the market.

Jindal Stainless (JSL) has announced a fresh price revision effective 13 May 2026 across its 300 series stainless steel grades and finishes. The revised price adjustments are as follows: * 304/304L (CR Finish) increased by ₹3/kg * 304/304L (HR Finish) increased by ₹4/kg * 316/316L (CR & HR Finish) increased by ₹10/kg The latest revision reflects strengthening market sentiment in the stainless steel segment, particularly for higher nickel-bearing grades.

The Indian flat steel market is demonstrating resilient stability this week. While Hot Rolled Coil (HRC) prices remain anchored by strong domestic automotive demand, secondary products like MS Flats are seeing a slight uptick due to pre-monsoon construction activity. Supply remains robust across major integrated mills, though rising coking coal costs are beginning to squeeze production margins, signaling a potential price floor for the coming weeks.

India faces a scrap shortage, meeting only 25% of steel demand via scrap-based production. This, coupled with deteriorating iron ore quality, challenges green steel efforts and decarbonization. Crude steel production is 168-169 million tonnes, growing 8-9% annually.

Shivam Pipes secured Rs 90.8 mn orders for galvanized steel tubular electric poles for North Eastern state electricity boards under RDSS. With 36,000 t/annum capacity, delivery is set for 1-4 months, enhancing its market position and future prospects.

Brazilian steel market participants anticipate an 8.36 point increase in steel prices, reaching 65.62 points in May, according to a market sentiment survey.

The steel industry faces a coal lock-in crisis, threatening net-zero targets. India drives 42% of new capacity, 93% coal-based. Globally, 178 mtpa net gain in blast furnace capacity is projected, contradicting decarbonization efforts.