Stainless Steel News Today

Stainless steel prices in India remained firm, supported by healthy demand from infrastructure, engineering, and manufacturing sectors despite rising imports and global market uncertainty. Meanwhile, China's stainless steel market weakened due to ample supply and sluggish demand. Falling inventories and stable mill pricing continue to provide support to domestic prices.

Kolkata's steel industry faces pressure to cut carbon emissions due to global climate goals. Transitioning to green steel is vital for competitiveness, despite high costs and coal reliance, with government incentives being explored for this crucial shift.

Nara Lokesh invited Russian investors to Andhra Pradesh at SPIEF 2026, pitching $4 billion space ecosystem plans, including a 3,000-acre Tirupati space city. He also sought investments in steel, manufacturing, and advanced technologies, aiming for long-term partnerships.

India's steel sector faces a green reckoning, driven by climate targets and EU carbon levies. Investing ₹347 crore in hydrogen pilots and promoting green public procurement, it aims to cut emissions, targeting 300 MTPA by 2030.

A Kolkata conglomerate plans a Rs 35,000 crore investment in West Bengal's steel, mining, and energy sectors. This expansion aims to reshape the industrial map, boost manufacturing, and generate employment, despite environmental concerns.

India steel prices remained largely stable during the week ending 29 May 2026 as demand continued to be driven by immediate requirements. While flat steel prices showed marginal improvement, rebar prices weakened due to inventory pressure. Safeguard duties supported domestic HRC prices, while seasonal factors and muted construction activity capped market momentum.

Japan launched an anti-dumping probe into cold-rolled steel from South Korea, China, and Taiwan, following requests from top steelmakers. The investigation, aiming to conclude within one year, addresses increased steel exports and potential duties.

The US will cut tariffs on farm equipment from 25% to 15% and introduce a 10% rate for products using 85% US metals. However, core metal tariffs remain at 50%, with limited benefits for India, impacting $2.9 billion in trade.

Steel rebar futures hit CNY 3,190/tonne in June, a two-week high, up over 3% year-to-date. Chinese stimulus measures are boosting demand expectations, driving the price surge.

Trump adjusted steel, aluminum, and copper tariffs, lowering rates to 15% for farm equipment and HVAC, and 10% for countries using 85% US metals. These temporary changes are effective Monday until end-2027.