Stainless Steel News Today

China's PE market faces tight spot availability due to new capacity delays until August, creating a supply gap in H1 2026. Plant turnarounds and weak imports further constrain supplies.

International oil prices dropped sharply to $96.14/bbl, down 7.15%, due to easing Middle East tensions. This increases the risk of a high-price pullback for China's polypropylene (PP), a crude oil derivative.

AMNS India started EQ70 grade-welded pipe production at Hazira, Gujarat. These high-strength pipes (690 MPa yield strength) cater to the oil and gas industry's offshore needs, including jack-up rigs and deepwater pipelines.

India's core sector grew 1.7% in April, led by cement (9.5%) and steel (6.2%) from infra investments. Electricity rose 4.1%. Natural gas and refinery products declined. FY27 cement profitability may drop 10-15%.

India’s stainless steel market shows a striking divergence as of late May 2026. While sluggish downstream demand has dragged 304-grade prices down, tight supply and surging molybdenum costs have pushed 316-grade prices higher. Meanwhile, a 7% projected rise in FY26 scrap imports highlights a massive industry shift toward scrap-based melting.

Chennai's 3.2-km Anna Salai flyover, over two-thirds complete, targets September 2026 operation. Despite technical challenges and past delays, work accelerates to ease chronic congestion, though experts urge integrated urban planning.

UK's new steel curbs, reducing tariff-free quotas by 60% and adding a 50% duty, pose an early hurdle for the India-UK FTA. This impacts India's $897.68 million steel exports, raising market access concerns.

India's steel ministry seeks withdrawal of AD duty on met coke due to tight domestic supplies, higher prices, and a 20% rise in input costs for steel mills. Domestic producers can't meet demand.

JSW Group plans a 25 million tonne integrated steel plant in Gadchiroli, Maharashtra, leveraging iron ore proximity and improved security. Chairman Sajjan Jindal foresees continued capex momentum and highlights JSW's electric mobility and battery manufacturing initiatives.

BigMint's coking coal index rose $2 w-o-w to $268/tonne CNF Paradip on May 22, 2026. This occurred despite falling Australia-India vessel freights and declining Indian steel prices. No uptrend is expected.