Stainless Steel News Today

Lakshmi Mittal states India will lead global steel demand post-China's two-decade growth, driven by infrastructure, urbanization, housing, and energy transition. ArcelorMittal is expanding its presence, including a new plant in Andhra Pradesh.

Lakshmi Mittal states India will drive global steel demand, succeeding China's 20-year growth. Infrastructure, urbanization, and energy transition, plus AI's power needs, will fuel demand. ArcelorMittal sees significant growth in India.

H1 2026 saw Indonesian NPI prices surge 12% YoY, up 24.6% from early-year lows, driven by tightening supply and rising costs. Raw material diversification is growing as NPI's market share is squeezed.

India's steel capacity utilization is set to exceed 90% on strong demand, up 9% in May. Margins are expected to improve QoQ in 1QFY27E, driven by a ~7% demand CAGR over FY2026-29E, despite some price drops.

CPM urges state to use Vizag Steel for Amaravati projects, seeking 10 acres for a market yard. Demands ₹1 crore ex-gratia for deceased VSP workers and ₹50 lakh for injured after a recent accident.

MS structural steel prices in India remained stable to firm as infrastructure, industrial construction, and fabrication demand continued to support market sentiment. Primary mills maintained pricing discipline, while secondary market competition capped sharp increases. Comfortable inventories and steady project execution are expected to keep structural steel prices largely supported in the near term.

Steel prices in India remained under pressure during June as weak construction activity, cautious buying, and rising inventories weighed on market sentiment. Long steel products witnessed sharper declines, while flat steel prices remained relatively stable due to export support, firm coking coal costs, and limited import competitiveness.

Australian miners target India/SE Asia for growth, offsetting China's decline. India plans 400M tonnes steel by 2035-36; BHP expects India's met coal demand to double by 2050, requiring vast imports.

India launched a credit note scheme for green ship recycling, offering 40% of scrap value redeemable for 5% of new Indian-built ships. This boosts domestic shipbuilding, circular economy, and HKC-compliant recycling.

Stolt-Nielsen sent its 2007-delivered Stolt Innovation stainless steel chemical tanker to India for recycling, marking the second such vessel recently. April deals for similar tankers saw highest prices paid for tonnage in 2026.