Stainless Steel News Today

China's May methanol imports may hit a decade low, falling below 400,000 tonnes. Inventories could drop to 800,000 tonnes by late April due to tight supply and strong exports, despite squeezed downstream margins.

Middle East conflicts created an unexpected export window for China's PP, boosting exports by 30.33% in Jan-Feb. This relieved domestic oversupply as other Asian producers idled capacity due to surging feedstock costs.

Geopolitical shifts in the Middle East are disrupting traditional PP supply. China's PP industry is seizing this opportunity, leveraging cost advantages and production scale to expand its global export share and transform its trade strategy.

Indian steel prices softened as Iran tensions eased. HRC/CRC declined ₹200-600/ton, and IF rebar also fell. Seaborne coking coal weakened, offering cost relief. Imported shredded scrap dropped $6 w-o-w to $393/ton, with buyers favoring domestic options.

Iran's supply gap and freight issues are expected to support Asian steel prices in Q2. A report analyzes trends in iron ore, coal, copper, alumina, cobalt, lithium, nickel, and steel.

China's steel sheet/plate exports fell 16.3% to 14.6 million mt in Jan-Mar 2026, with March alone seeing a 19.1% drop to 5.28 million mt. Increased trade barriers impacted exports.

Stainless steel prices held completely steady this week, with SS Cold Rolled Coils at ₹1,73,000/MT and SS Hot Rolled Coils at ₹3,48,000/MT — both unchanged week-on-week and month-on-month. Stable raw material costs, limited import pressure, and consistent cross-segment demand are anchoring prices in a firm consolidation phase. Procurement managers can expect this stability to persist in the near term, though upward price risk is building on the back of recent JSL price hikes.

Telangana CM urged Centre to establish a Green Steel Plant in Bayyaram, an EV battery hub, and a modern equipment park, aiming for industrial growth and a pollution-free Hyderabad.

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.