Stainless Steel News Today

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.

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.

Jogindra Group plans a Rs 11 billion investment in Punjab for steel manufacturing and renewable energy projects. This aims to develop new facilities and expand operations, boosting industrial capacity and supporting regional supply chains.

India's metal & mining sector expects recovery from domestic demand, commodity price rebound. Steel prices since Dec 2025 will boost Q4 FY26 profitability. Geopolitical issues impacted ~9% global aluminum supply, surging prices. Strong EBITDA growth.

The Indian stainless steel market held steady this week with zero week-on-week price movement across both Cold Rolled and Hot Rolled Coils, signalling a consolidation phase amid stable raw material dynamics. Average traded prices across key cities stood at approximately ₹2,60,500/MT, with the broader category registering a modest 1.94% month-on-month uptick. While the wider steel ecosystem — particularly TMT bars and structural steel — is seeing bullish momentum driven by India's infrastructure push, stainless steel demand drivers remain more sector-specific and subdued in the near term.