Stainless Steel News Today

Iron ore futures dropped toward CNY 670 per ton, hovering near four-year lows, driven by declining profitability among Chinese steel mills that weakened overall market demand.

During October 16-22, 2026, China's methanol industry saw declining prices across the supply chain, driven by expectations of increased supply and weaker downstream demand.

Surat Steel supplied high-grade steel for the Indian Navy's INS Mangrol, commissioned on October 26, 2023, boosting indigenous defense manufacturing and self-reliance.

The Chenab Bridge, the world's highest railway bridge at 359 meters and 1,315 meters long, successfully completed India's challenging Kashmir rail project after decades of engineering breakthroughs.

India's coking coal index eased slightly to $292/t CNF Paradip amid rising inquiries. While down $15/t since September, supply uncertainties limit sharp declines. Met coke and steel prices also weakened.

Railways started placing eight 28-tonne steel girders for the Maris RoB, aiming to finish by November 30. The bridge is expected to reopen for traffic before January 2027.

Construction steel inventory dropped by 224,700 tonnes to 6.5646 million tonnes, reflecting slowing destocking. Supply is rising slightly while regional demand remains balanced amidst contrasting northern and southern weather conditions.

Maharashtra-based induction furnace rebar mills have revised diameter differentials by ₹500/tonne, signalling a change in the price gap between rebar sizes. The adjustment matters for construction contractors and steel distributors because the final TMT bar price depends not only on the base rate, but also on diameter, grade, taxes, loading and freight. The linked BigMint article confirms the revision, but its full details are subscription-restricted, so the direction and affected diameters cannot be independently verified.

Jindal Steel aims to more than double its coal gasification capacity to 11 million tonnes by 2030, boosting industrial value addition, reducing forex outflow, and supporting India's energy self-reliance.

India’s mild steel (MS) structural steel market remains volatile, with frequent price revisions across billets, beams, channels, angles and wire rods. Nexizo’s latest displayed rates show MS billets at ₹47,100/MT in Mandi Gobindgarh and structural sections around ₹51,200–51,900/MT, while cautious purchasing and raw-material movements continue to shape the near-term outlook.