Stainless Steel News Today

The price today reflects a balanced market where SS 304 price in kg has stabilized between ₹180 and ₹210 depending on the regional warehouse. Domestic mills are maintaining steady production levels as the industry benefits from a ₹12.2 lakh crore capex injection into railways and defense. While global nickel remains volatile near $17,200 per tonne, the Indian supply chain is well-buffered by healthy inventory levels and streamlined BIS import exemptions.

China's Q1 PVC exports are estimated to hit 1.20 million tonnes, driven by strong growth. This surge follows the government's announcement to abolish the value-added tax export rebate for PVC from April 1, 2026, accelerating deliveries.

An April 7, 2026 attack on Saudi Arabia's Jubail Industrial City disrupted global PE supply, driving up Chinese PE prices. Tight supply is expected, potentially benefiting China's chemical exports.

China's BPA output rose 6.92% YoY to 1.213 million tonnes in Q1 2026, driven by new capacity and fewer losses. Prices increased due to tightened supply and profitability. Short-term tightening expected.

Blast in Jubail Industrial City pushes up MEG prices to five-year high. MEG Global Import/Export Price. A major attack on Saudi Arabia's critical petrochemical infrastructure in the Jubail Industrial City on April 7 triggered a sharp rise in MEG prices, and China's MEG prices climbed higher to a five-year high. The attack, which struck one of the world's largest petrochemical hubs, sent shockwaves through global energy and chemical markets. The shutdown of core production facilities led to a sharp reduction in global available supply of ethylene glycol (MEG) in the short term, and the attack on Saudi Arabia's petrochemical.

Coastal China's methanol destocking is expected to slow in April due to a 204,500-tonne increase in imports and soft demand. Exports will become the core driver for inventory reduction.

India aims to cut steel emissions by 25% to 2 tons CO2/ton by 2035-36, doubling capacity to 400 million tons with 17 trillion rupees investment, creating 3 million jobs. Policy promotes gas-based steelmaking and scrap use.

Manbro acquired 99.84% of KD Infrastructures to expand its fabricated steel business. This includes a 25,000-tonne annual capacity facility, diversifying into high-margin infrastructure solutions like galvanized products, power, and solar structures, aiming for scalable growth.

Q1 galvanizing rates were weaker YoY. Q2 expects a turnaround due to delayed peak season, infrastructure growth, and significant 15th Five-Year Plan investments: 700,000 km pipelines and 5 trillion yuan for power grid.

Experts advise booking profits in metals. Nifty Metal gained 7.8%. Aluminium prices may drop from $3,000 to $2,600-$2,700, and steel prices are near peak. Hindalco rose 24%. Maintain stop losses.