Stainless Steel News Today

India's steel sector, contributing 12% to national emissions, can curb pollution by avoiding new coal-based blast furnaces and redirecting investments toward electric arc and green hydrogen technologies.

India's steel composite index rose for the seventh consecutive week, driven by improved project demand, maintenance shutdowns, and rising input costs pushing HRC and rebar prices higher.

India’s steel market continued its upward trajectory, with BigMint’s composite steel index rising 2.8% week-on-week as of September 4, marking the seventh consecutive weekly increase. Stronger project procurement, rising iron ore, pellet and coking coal costs, and maintenance-related supply constraints are supporting prices, while tighter trader-channel availability is giving mills greater pricing power.

India's coking coal index rose $19 to $299/tonne amid global supply constraints, while August imports dropped 20% m-o-m to 5.4 million tonnes and domestic finished steel prices surged.

China's polypropylene industry is set to add 1.75 million metric tons per year of new capacity in September as several producers bring their units into operation, though actual supply increments may remain limited.

New Mangalore Port Authority achieved a milestone by handling its first-ever export of 31,500 tonnes of steel grade pig iron to Kenya, as overall cargo handling grew by 11.13 percent.

Indian steelmakers maintain strong credit profiles, driven by robust domestic demand, firmer pricing, and protective trade measures that reduce import pressure and support EBITDA growth despite high capital expenditure.

India’s HRC-rebar price spread narrowed sharply in August as rebar prices rose faster than HRC amid maintenance-led supply constraints and stronger bookings. With rebar availability expected to remain tight and construction demand likely to improve, the spread could narrow further in September.

India's vast coal reserves can drive growth beyond power through gasification, supported by a 37,500 crore rupee scheme aiming to gasify 100 million tonnes by 2030, reducing imports and boosting steel and chemicals.

GPT Infraprojects emerged as the lowest bidder for a Rail Vikas Nigam bridge construction project over the Mahanadi river, valued at Rs. 483.7 crore including GST.