Stainless Steel News Today

India's anti-dumping probe on CRGO steel, requested by JSW JFE, worries MSME transformer makers over cost hikes. Domestic output is far below demand, raising concerns until JSW JFE scales production by FY2028.

An anti-dumping probe on CRGO steel, initiated by JSW JFE, sparks panic among MSMEs over potential price hikes (40-50% of transformer cost) and increased electricity tariffs. India imports 90% of its 4 lakh tonne annual demand.

MSME stainless steel units seek QCO reinstatement to counter rising Chinese imports, which are depressing prices and eroding margins. This move aims to protect domestic production, employment, and ensure quality standards against unfair competition.

India launched an anti-dumping probe into hot rolled steel imports from China, Japan, and Russia, following domestic producers' claims of injury from cheaper shipments. China's April exports surged to 232,000 tonnes, priced $11-37/tonne lower, pressuring local margins.

VMS TMT board approved merger with Aditya Ultra Steel Ltd (AUSL). AUSL shareholders get 75 VMS TMT shares for every 100 AUSL shares. This creates a combined manufacturing capacity of over 300,000 tonnes per annum, enhancing growth.

Indian stainless steel makers urge QCO reinstatement from July 1, citing cheap imports due to temporary relaxation expiring June 30. Capacity utilization is below 50%, threatening domestic manufacturers' viability.

India plans a ₹5,000 crore scheme in three months to boost green steel technologies. The 'National Strategy for Sustainable Secondary Steel' aims to cut carbon emissions, supporting net-zero goals, with funds for all steelmakers.

China's methanol coastal inventory is set to decline for two weeks, bottoming out in early July before a stock-building cycle begins. Easing U.S.-Iran tensions and ample supply are influencing prices.

China's phenol exports surged 225% YoY to 55,300 tonnes in Jan-May 2026, with May alone jumping 318% MoM. This rally was fueled by supply gaps and India's zero-tariff policy, though exports may ease in H2.

TMT steel prices in India remained largely stable on June 29 despite weaker month-end demand and cautious buying activity. Distributors reduced prices marginally across key markets, while lean inventories and mill backlogs prevented a sharper correction. Rising diesel and petrol prices are expected to increase logistics costs, helping offset demand weakness and supporting near-term market stability.