Stainless Steel News Today

Stainless steel prices stabilised after JSL cut ₹3/kg in 304 and ₹5/kg in 316L. Demand remains mixed—soft in 300 series, improving in 400, and strong in 200 due to tight imports. Globally, Asian markets remain quiet amid high inventories. Overall, the domestic outlook stays stable to firm depending on the series.

Flat steel prices remained unchanged across major regions as domestic demand held steady but cautious. Imports dropped sharply by 54% YoY, easing competitive pressure, yet buyers stayed conservative due to muted manufacturing activity. Weak export deals in Vietnam and the Middle East further weighed on sentiment, keeping the overall market stable but subdued.

China's acetone capacity is expanding significantly, with 910,000 tonne/year added by 2025, continuing through 2030. Slower downstream growth will widen export markets for the industry.

China's coking coal imports are contracting due to steel cuts and domestic supply resilience, shifting its import dependency. Indonesia is gaining an edge in the blending market amidst this structural change.

Iron ore futures fell as Guinea's Simandou project began supply, increasing global availability. This comes as top consumer China's demand is set to decline due to falling steel output, intensifying market pressure.

India began steel cutting for its first all-electric Green Tug, featuring a 60-ton bollard pull capacity. This major step towards Net-Zero promotes zero carbon emissions and high efficiency in maritime operations under the GTTP.

India's steel exports to Europe, two-thirds of total, face decline from EU's carbon tax starting January 1. Producers, using high-emission blast furnaces, seek new markets as the levy impacts margins.

JFE Steel will invest Rs 157.5bn in a 50:50 JV with JSW Steel, acquiring the BPSL plant for Rs 244.83bn. This partnership aims to enhance value-added steel production and combine technological strengths.

China's CISA mills saw daily crude steel output drop 6.4% to 1.818 million mt in late November. Finished steel inventories also decreased by 8.5% to 14.28 million mt by November 30.

India, the 2nd largest steel producer, expands Mongolian coking coal imports to secure its steel supply chains. This reduces 85% import dependency, supports industrial growth, and offers long-term economic benefits.