Stainless Steel News Today

China's steel demand to fall by 5-7m tons annually as India, Southeast Asia's demand rises. China's global share to drop from 49% (2024) to 31% (2050), while India's to climb from 8% to 21%.

Steel prices across regions remained largely stable amid weak seasonal demand and consistent distributor inventory. The Essar Steel insolvency case resurfaced in NCLT, raising compliance concerns over ArcelorMittal-linked transactions. While manufacturers hold back on major revisions, market sentiment reflects subdued demand, restrained purchasing activity, and cautious supply management.

Billet: Prices rose by ₹100/t to ₹36,600/t exw-Raipur (Sept 1), but market sentiment stayed weak as buyers resisted higher offers. Weather Impact: Continuous heavy rains slowed transportation and restricted overall trading momentum. Finished Steel: Rebar gained ₹100/t d-o-d, while wire rod held steady. However, demand remained sluggish with limited buying interest. Raw Material: Sponge iron prices increased by ₹100/t in Raipur, though market activity was largely muted.

Iron ore futures fell to a one-week low due to reduced steel margins and anticipated lower steel output in China before a military parade.

Procurement in the primary market remains largely need-based, with stockists clearing older inventories and subcontractors showing resistance due to tight budgets. ISMB demand stays firm, driven by metro and highway projects. In the secondary market, fabrication activity has improved post-monsoon in central and eastern states, with Raipur–Raigarh mills running at 70–75% capacity. However, availability remains limited for ISMC 100 and smaller angles.

Vardhman Special Steels and Aichi Steel Corp will invest ₹2,500 crore in Ludhiana for a 5 lakh TPA special steel plant, including a ₹500 crore solar power unit, creating 1,500+ jobs.

China plans to reduce steel production from 2025-2026 to address overcapacity, aiming for a 4% annual value-add growth and promoting steel use in infrastructure.

Indian stainless steel prices held steady with the 300 series showing stability, while 200 series demand remained upbeat on tight imports. The 400 series also stayed firm with rising demand. Scrap purchase costs supported current levels, and No.4 PVC finish demand continued to strengthen across both 200 and 300 series.

China is projected to increase its polypropylene (PP) production capacity by approximately 7.11 million tons per year in 2025.

Mother India Forming Pvt Ltd, Bengaluru, leverages precision steel forming to produce lighter, safer, and more efficient vehicles. They specialize in high-strength steel components, catering to diverse sectors from auto to construction with over 350 product lines.