Stainless Steel News Today

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.

China will abolish PV export VAT rebates from April 1, 2026. This move is expected to boost EVA prices short-term, and long-term, drive industry upgrading, consolidation, and globalized capacity layout, as announced on January 8.

A 13% VAT export rebate for PVC products (codes 39041090, 39042100, 39042200) will be cancelled from April 1, 2026. This aims to promote structural adjustment and upgrading of the PVC industry.

China's acrylonitrile prices hit a five-year low in early 2026, reaching Yuan 7,000/tonne in Shandong. Persistent oversupply and weak demand caused significant inventory build-up, pushing producers into losses.

Iron ore futures rose as China pledged new stimulus policies to boost domestic consumption. This move lifted market sentiment, impacting global commodity prices.

The India steel index posted a marginal week-on-week increase as domestic prices showed signs of moderation following a recent sharp surge. Trade-level hot-rolled coil (HRC) prices recorded a strong week-on-week rise, supported by positive policy developments. Blast furnace (BF) rebar prices continued to gain momentum, while induction furnace (IF) rebar prices softened slightly. Overall steel prices remained in positive territory, driven by ongoing inventory drawdowns across the market.

EU's carbon tax starts Jan 1, hurting Indian steel/aluminium exporters. Prices may drop 15-22%. Exports to EU fell 24.4% ($7.71B to $5.82B). Strict emissions data and verification are mandatory from 2026.

Dalian iron ore futures dipped Friday on higher China portside stocks but secured a weekly gain, driven by expectations of improving demand for the key steelmaking ingredient.

China's compound fertilizer output is projected to reach 57.11 million tonnes in 2026, a 1.27 million tonne YoY decrease. The market faces oversupply, with utilization at 36%, leading to price pressure.