Stainless Steel News Today

India's steel exports surged in FY26, driven by trade policies, a weaker rupee, and global demand. This strengthens its global market position, balancing domestic needs with sustainability and navigating global risks.

India needs $20-25 billion investment in iron ore production to achieve its 400 million tonnes steel capacity target over the next decade. This is crucial for infrastructure growth, addressing supply chain gaps, and preventing price volatility.

India's steel producers will hike hot rolled coil prices by up to ₹3,500/tonne due to rising raw material costs and global trends. This will increase construction and infrastructure project costs, despite strong demand.

Global steel market remains stable, but Indian panic is misleading. Fundamentals show no real downturn, with Iran supply disruptions and steady crude indicating uncertainty. Traders advised to rely on ground realities.

Indian steel companies plan ₹3,500/tonne HR coil price hike to ₹64,500/tonne in April, with CR coils rising ₹3,000/tonne, driven by rising raw material, energy costs, and geopolitical tensions.

Structural steel prices in India have firmed up across key regions as demand stabilizes post financial year-end. Improved offtake from infrastructure and industrial sectors, along with controlled supply and reduced selling pressure, is supporting the market. With mills pushing marginal price hikes, the outlook remains stable with a mild upward bias in the near term.

The price today reflects a balanced market where SS 304 price in kg has stabilized between ₹180 and ₹210 depending on the regional warehouse. Domestic mills are maintaining steady production levels as the industry benefits from a ₹12.2 lakh crore capex injection into railways and defense. While global nickel remains volatile near $17,200 per tonne, the Indian supply chain is well-buffered by healthy inventory levels and streamlined BIS import exemptions.

China's Q1 PVC exports are estimated to hit 1.20 million tonnes, driven by strong growth. This surge follows the government's announcement to abolish the value-added tax export rebate for PVC from April 1, 2026, accelerating deliveries.

An April 7, 2026 attack on Saudi Arabia's Jubail Industrial City disrupted global PE supply, driving up Chinese PE prices. Tight supply is expected, potentially benefiting China's chemical exports.

China's BPA output rose 6.92% YoY to 1.213 million tonnes in Q1 2026, driven by new capacity and fewer losses. Prices increased due to tightened supply and profitability. Short-term tightening expected.