Stainless Steel News Today

India’s TMT market remains firm following a recent price correction, supported by strong infrastructure demand and tight supply conditions. While prices are expected to remain stable within a defined range, volatility may persist due to rising coking coal costs, global trade shifts, and potential import pressure. The market continues to balance strong fundamentals with evolving geopolitical and policy-driven risks.

Korea and India signed 20 MOUs in steel, shipbuilding, and digital services during President Lee Jae Myung's state visit, fostering new partnerships and collaborations between the two nations.

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.