Stainless Steel News Today

China's octanol designed capacity is projected to reach 4,685,000 tonnes in 2026, an increase of 960,000 tonnes. This surge will create a supply surplus, intensifying market competition and pressuring producer profits.

Propylene prices in China moved sharply higher as supply tightened following a drop in PDH operating rates. Several propane dehydrogenation units were taken offline, notably Jinneng Chemical and Wanhua Chemical (Penglai), which significantly reduced domestic propylene availability. Wanhua (Penglai) shut down its 900,000 tpa PDH unit on January 13, further aggravating the supply crunch and lending strong upward momentum to propylene prices.

China's daily-use injection molding PP prices surged in January 2026, driven by bullish policies and supply reduction, despite weak end demand. This broke a previous downtrend.

China's MX demand growth will slow from 2026-2030 due to decelerating downstream expansion. New PX capacity (8.50M t/y) won't offset a 33.64M tonne gasoline consumption drop, shifting demand to chemical products.

Indian Railways will pilot galvanised rails in coastal areas to combat corrosion, extending track life from 2-3 to over 12 years. Despite higher upfront costs, it aims to significantly cut Rs 200 billion annual renewal expenses.

Indonesian 304 SS prices surged, cold-rolled CIF breaking $2,000/mt, driven by 11% higher nickel costs. Mainstream quotes hit $1,930/mt. India's demand, paying $50 premium, sustains exports amidst new capacity and weak global markets.

Stainless steel futures surged, SS2603 at 13,930 yuan/mt. Spot prices are high due to futures rally and rising costs. December production fell to 3.23 million mt, 300-series output declined, but end-user demand remains weak.

Dalian iron ore futures edged up after China reported its highest ever monthly imports of the steelmaking ingredient and record-high steel exports, reflecting robust demand and production.

China's 1,4-Butanediol (BDO) exports are expected to drop short-term due to the European Commission's provisional anti-dumping duty (disclosed Jan 8) and the abolishment of VAT export rebates.

China's benzene market faces supply pressure in 2026 due to 2.77 million t/y new capacity. This will lead to a 790,000-tonne annual surplus, causing inventory accumulation and a looser supply-demand dynamic.