Stainless Steel News Today

Steel rebar futures dropped towards CNY 3,200 per ton, retreating from nine-month highs. This decline is attributed to an anticipated seasonal slowdown in demand and softer downstream consumption, impacting the market.

Jindal Stainless (JSL) has announced a fresh price revision effective 13 May 2026 across its 300 series stainless steel grades and finishes. The revised price adjustments are as follows: * 304/304L (CR Finish) increased by ₹3/kg * 304/304L (HR Finish) increased by ₹4/kg * 316/316L (CR & HR Finish) increased by ₹10/kg The latest revision reflects strengthening market sentiment in the stainless steel segment, particularly for higher nickel-bearing grades.

The Indian flat steel market is demonstrating resilient stability this week. While Hot Rolled Coil (HRC) prices remain anchored by strong domestic automotive demand, secondary products like MS Flats are seeing a slight uptick due to pre-monsoon construction activity. Supply remains robust across major integrated mills, though rising coking coal costs are beginning to squeeze production margins, signaling a potential price floor for the coming weeks.

India faces a scrap shortage, meeting only 25% of steel demand via scrap-based production. This, coupled with deteriorating iron ore quality, challenges green steel efforts and decarbonization. Crude steel production is 168-169 million tonnes, growing 8-9% annually.

Shivam Pipes secured Rs 90.8 mn orders for galvanized steel tubular electric poles for North Eastern state electricity boards under RDSS. With 36,000 t/annum capacity, delivery is set for 1-4 months, enhancing its market position and future prospects.

Brazilian steel market participants anticipate an 8.36 point increase in steel prices, reaching 65.62 points in May, according to a market sentiment survey.

The steel industry faces a coal lock-in crisis, threatening net-zero targets. India drives 42% of new capacity, 93% coal-based. Globally, 178 mtpa net gain in blast furnace capacity is projected, contradicting decarbonization efforts.

U.S. transformer market faces severe supply constraints due to surging demand (274% for generator step-up, 116% for substation units) and raw material shortages. Lead times are up to four years, prices rose 80%, hindering grid modernization despite over $1.4 billion in new investments.

Indian auto firms missed FY26 vehicle scrapping targets by 70%, scrapping only 2.42 lakh of 7.62 lakh required. Industry blames "unrealistic policy" and a rule change mandating only ELV steel for EPR, making the sector non-compliant.

BigMint's coking coal index hit a three-month high of $266/t due to Australian supply issues. India's imports dropped 12% in April, while vessel freights rose. Indian steel prices remained under pressure.