Stainless Steel News Today

The Indian stainless steel market is navigating a period of "cautious stability" this week. While benchmark prices for SS 304 and SS 316 remain firm due to steady domestic demand from the infrastructure and defense sectors, global raw material volatility—specifically in Nickel—is keeping buyers on alert. Supply chains are currently managing a delicate balance between healthy local inventories and mounting logistical pressures from the Strait of Hormuz disruptions.

India targets 300 Mn tonnes steel capacity by 2030, importing 90% coking coal. Diversifying from Australia to the US faces hurdles. Experts advise green hydrogen/scrap furnaces for energy security. Government aids.

India's push to diversify 90% met coal imports to the US offers limited protection from price shocks and supply constraints, due to global price linkages, higher freight, and limited US capacity, risking its 2030 steel goals.

Ministry of Steel will hold an Open House on April 27 to address steel import issues like SIMS and QCO exemptions. India's steel output grew 10.7% to 168.4 million tonnes in FY26, becoming a net exporter despite challenges.

Rathi Steel gained GreenPro certification for its sustainable TMT rebars, enabling green building credits. RSPL reported FY25 revenue of Rs 5.0543 bn and FY26 revenue exceeding Rs 7.15 bn, showcasing growth and environmental commitment.

JSW Steel earned its 8th Worldsteel Sustainability Champion title. With 35.9 mn tonnes capacity, expanding to 43.4 mn, it targets 42% CO2 reduction by 2030 and net zero by 2050, showcasing responsible production.

Evonith Steel raised ₹2,000 crore: ₹1,750 crore for debt reduction and ₹250 crore for project completion and expansion. This includes a 0.3 MTPA DI pipe project and increasing steel capacity to 0.6 MTPA.

China's BDO exports surged 159.94% in Q1, reaching 80,000 tonnes, driven by the upcoming VAT rebate removal on April 1, 2026. This reduced inventory and boosted prices.

China's butadiene prices plunged 20.34% (late March-April) due to weak demand, easing downstream costs. PBR losses narrowed by Yuan 1,751/t, with production profits slowly recovering, expected to alleviate weak demand.

India’s TMT market remains firm following a recent price correction, supported by strong infrastructure demand and tight supply conditions. While prices are expected to remain stable within a defined range, volatility may persist due to rising coking coal costs, global trade shifts, and potential import pressure. The market continues to balance strong fundamentals with evolving geopolitical and policy-driven risks.