Stainless Steel News Today

MS structural steel prices in India remained largely stable this week as healthy infrastructure demand and disciplined mill supplies offset monsoon-related execution delays. Primary mills maintained pricing, while secondary markets witnessed steady buying supported by firm scrap and billet costs. The overall market continues to show a stable-to-firm outlook.

Combining hourly carbon-free electricity and green hydrogen blending can significantly decarbonize India's steel industry by 2030, raising production costs by a mere 3% while cutting emissions.

Indian steelmakers are pivoting to the domestic market to offset weaker exports, but cheap Chinese steel priced $52-$63 lower per ton makes it difficult to absorb the diverted output.

Iron ore futures recovered above CNY 750 per ton after touching two-week lows, driven by resilient Chinese steel production and robust import demand despite ongoing property sector weakness.

India's steel industry targets expanding capacity to 300 million tons by 2030 while facing decarbonization challenges, high green hydrogen costs, and the EU's Carbon Border Adjustment Mechanism.

India's growing steel sector faces energy security risks as Australia's metallurgical coal exports decline. To counter this, India is shifting towards scrap steel recycling and green hydrogen technologies.

CSRC focuses on long-term capital and quantitative trading. SHFE nickel rose 0.09% to 130,370 yuan/mt, expected 125,000-130,000 yuan/mt. Indonesia implements Single-Gate Export by Sept 2026. Stainless steel futures strengthened, spot destocked.

SAIL approved Bhilai Steel Plant's expansion from 6.8 to 10.2 MTPA at Rs 31,000 crore. The project, with a 42-month timeline, promises employment and will source raw materials from captive mines and other sources.

Kolkata's steel expansion gains pace with major engineering contracts awarded for facility upgrades. This aims to boost eastern India's industrial ecosystem, creating jobs and strengthening supply chains, while emphasizing environmental responsibility for sustainable growth.

Tata Steel will invest ₹10,000 crore in Jharkhand by 2028, creating 2,000 jobs. This includes ₹7,000 crore for HIsarna technology, aiming for 40 MTPA steel capacity and lower emissions.