Stainless Steel News Today

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.

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.

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.