Stainless Steel News Today

Hariom Pipe Industries unveiled a growth strategy focusing on capacity expansion to 785,000 tonnes, value-added products, and a 60 MW solar project. It leverages 900+ dealers to meet India's infrastructure demands.

Steel prices have moved upward across key regions amid improving demand and constrained supply. Distributors are raising prices as inventory remains tight and mills operate with strong order backlogs. Supported by infrastructure activity and fiscal year-end demand, market sentiment is strengthening, with limited chances of oversupply in the near term.

AM/NS India starts work March 23 on a ₹70,000 crore greenfield steel plant in Andhra Pradesh. The 8.2 MT capacity project on 2,200 acres targets first units by end-2028, expanding its manufacturing footprint.

Iron ore futures dipped due to rising freight rates impeding steel exports and high energy costs. DCE May contract fell 0.55% to 807.5 yuan ($117.35); Singapore April iron ore 1.33% to $107.35.

European steel production hit a historic low as imports gained a record market share. EUROFER reports growth signs but highlights challenges from imports, falling output, volatile energy prices, and trade tensions.

Jindal Steel partnered with IIT Delhi to establish a national Centre of Excellence for structural steel research. This collaboration aims to advance high-strength steel use, improve design, and promote sustainable, performance-driven construction for India's rapidly expanding infrastructure.

India's 300 MT steel goal by 2030 hinges on green innovation, low-carbon tech, and R&D. Decarbonization, circular models, and renewable energy are crucial for sustainable growth and global competitiveness.

China's PP supply is projected to remain tight in April due to increased maintenance and no new units coming online. Significant PP loss is expected in the first week of April from production cuts.

China's naphtha crackers slashed operating rates to 82.44%, down 5.75% week-on-week, due to Middle East conflict heightening supply fears for 40% of imports. Over 20 mln t/y capacity affected.

Structural steel prices remain stable across primary and secondary markets, supported by steady infrastructure and project demand. Secondary mills are pushing sales ahead of financial year-end, while traders maintain lean inventories. Prices are expected to stay range-bound, with a mild upward bias driven by closing-quarter demand.