Stainless Steel News Today

Turkey's scrap imports and pricing continue to shape global ferrous trade. Deep-sea prices rose over $25/mt. US exports to Turkey surged >140%. India's imports fell from 430,000 mt to 250,000-300,000 mt, reflecting a weakening market.

Tata Steel UK secured a US tariff exemption, allowing its British-processed steel to enter the US at a 25% duty, down from 50%. This aids Port Talbot's 2024 transition to electric-arc furnaces, despite temporary reliance on imported raw material.

Jindal India completed its ₹1,500 cr expansion in West Bengal, commissioning a new colour coating line. This boosts annual production to 2,75,000 tonnes, aiming for 60,000 tonnes/month capacity and 75% revenue growth by FY'27.

Overseas steel price spreads are narrowing, intensifying off-season impact. China-Indonesia billet spread tightened. India's slowed demand pushed mills like RINL into international markets, narrowing India-China resource price differences.

Steel rebar futures fell to CNY 3,170 per ton, a nearly three-week low, driven by slowing economic activity in top consumer China. This decline reflects growing worries about steel demand.

The Indian MS structural steel market remained stable-to-firm this week, supported by steady infrastructure demand and firm raw material prices. Primary mills maintained controlled dispatches and revised prices upward across regions, while secondary markets witnessed improved inquiries following recent corrections. Market participants continue to monitor monsoon-related execution trends and cautious institutional buying activity across industrial and construction sectors.

The Indian stainless steel market witnessed firm pricing trends across 300 and 400 series amid higher global raw material prices and supply constraints. Demand for 200 series remained strong due to limited imported availability, while No.4 PVC material demand continued to improve steadily. Market participants expect elevated price levels to persist in the near term, supported by global uncertainties and cautious supply conditions.

India's steel expansion targets 300 MTPA by 2030, potentially driving 6 billion tonnes of coking coal imports, costing $1 trillion. This reliance on coal-intensive blast furnaces exposes India to global price shocks, despite green steel alternatives.

US line pipe imports totaled 45,310 mt in March, up 8.3% from February but down 41.7% year-on-year. Valued at $48.05 million, South Korea led sources, followed by India, Mexico, and Ukraine.

India's steel expansion risks $1 trillion coking coal imports over 40 years. Green steel, powered by domestic renewable energy, offers a strategic alternative. By 2030, green hydrogen at $3/kg enables green steel at $562/tonne, potentially achieving cost parity with conventional steel.