Stainless Steel News Today

India's Steel Secretary states hydrogen could replace natural gas in 5-10 years, aiding decarbonization. Green steel production is a focus, with India targeting 500 million tonnes steel capacity by 2047, 47% from SMEs.

India's steel industry is embracing a hydrogen revolution for decarbonization and self-reliance. Hydrogen could replace natural gas in 5-10 years, boosting global competitiveness. SMEs produce half of India's steel.

MMRDA installed a 56-metre, 450-tonne steel span for Mumbai Metro Line 4, achieving 84.5% completion of the 32.32-km Green Line. The ₹15,498-crore project aims for full operation by late 2027.

Steel Secretary Sandeep Poundrik highlighted low steel prices as a problem for small companies, with 150 stopping production. This challenges the government's goal to add 100 million tonnes capacity in 5-7 years, exacerbated by global dumping.

Iron ore futures softened due to declining steel production, rising port inventories, and weakening demand in China. This trend reflects concerns over the market's health.

Expert panel recommends environmental clearance for AM/NS's ₹1.5 lakh crore steel plant in AP. The Anakapalli plant, with an initial 8.2 MTPA capacity, will lay its foundation stone during the Nov 14-15, 2025 summit, securing approvals in 14 months.

Nickel prices stood at $15,250/ton, while Copper was priced at $10,891/MT. The INR opened at 88.79 against the USD. The current retaail price for 304 CR wider 2B is approximately ₹200–205/kg (basic), and HR around ₹194–197/kg (ex-Delhi). Narrow coils are about ₹8–10/kg cheaper, plus GST. SS 316L HR (imported) material is being retailed around ₹350/kg for HR wider, while Indian material is ₹5/kg costlier.

India targets 300 MT crude steel capacity by 2030, driven by 11-13% domestic demand growth from infrastructure projects. Steel production surged 14.1% in September, with green steel R&D collaboration explored with Sweden.

Iron ore futures dipped Friday due to dwindling demand and rising China inventories. However, hopes of a major trade deal kept prices on track for weekly and monthly gains, despite the day's slide.

China's xylene imports in September plunged 39.35% MoM to 67,521.60 tonnes. Cumulative imports from January to September 2025 reached 880,733.68 tonnes, a 7.93% YoY decrease.