Stainless Steel News Today

India’s structural steel market remains firm as mills raise prices by ₹500–₹1,500/MT to offset rising raw material and energy costs. Strong demand from infrastructure, PEB, and warehouse projects continues to support consumption, while falling mill inventories and production cuts at secondary mills tighten supply. Global energy price spikes and China’s capacity curbs are also sustaining the upward momentum in domestic steel prices.

RINL’s Visakhapatnam Steel Plant may face an LPG shortage within the next week due to the West Asia conflict, potentially impacting operational continuity and steel production. Market participants are monitoring developments.

Geopolitical conflicts lifted methanol prices, yet MTO industry profits soared as olefin product gains outpaced feedstock costs. Producers enjoyed impressive profits, with ethylene and propylene price increases exceeding methanol's rise.

India's government is driving industrial decarbonization with green steel taxonomy, 2019 scrap recycling policy, and 4 hydrogen pilot projects. BHEL developed 1.4 tonnes/day CO₂ capture and 35 MW solar, while AUSC tech reduces emissions by 11%, aiming for net-zero by 2070.

Enlight Metals' AI-powered Waste Free Steel initiative targets 8-10% steel wastage reduction in infrastructure, shifting to drawing-based supply. This cuts 12-15% inefficiencies, saving 40-60% material costs, improving inventory, and boosting sustainability.

Escalating West Asia tensions are pressuring Indian and global steel markets. Rising crude ($70 to $90/barrel), LNG, and freight (up 40%) costs are increasing input prices, impacting margins, and potentially affecting steel demand.

Middle East crisis cuts LNG supply, forcing small Indian steel makers to face up to 50% output cuts or shutdowns. Rising coal/freight costs (10-12%) further squeeze 2-4% margins, threatening the secondary steel sector.

India's crude steel output hit a record 15.15 mnt in Jan 2026. Despite 8-10% demand growth expectations, manufacturing slowed to 4.8%, exports fell 5%, and the trade deficit widened to $34.68 billion, raising downstream growth concerns.

In 2025, the Asian iron ore market saw Australian producers shift to lower-grade specifications. Increased supply and weak steelmaking margins caused price disruptions, though levels improved in the second half of the year.

Australia-India partnership pioneers green steel using ag waste, achieving world-first commercial scale. This could halve India's steel emissions by 50% (357 million tonnes CO₂/year) by blending 5-10% rice husk, leveraging surplus biomass.