Stainless Steel News Today

During October 30-November 5, 2026, China's methanol market showed mixed prices, firm thermal coal support, rising port inventories, stable olefin demand, and weaker seasonal traditional downstream demand.

NCDEX partnered with BigMint for a three-year collaboration to establish transparent spot price benchmarks for steel scrap derivatives in India, enhancing market credibility and risk management.

India's stainless steel market remained subdued in the week ended 4 November 2026, with weak downstream demand, liquidity constraints and festive-related disruptions limiting fresh procurement. While 304 HR coil prices remained stable, leading domestic producers reduced selected flat product prices, indicating continued pressure on the market. Near-term trading is expected to remain range-bound.

India’s TMT steel market remained firm on October 26, 2026, with prices across Mumbai, Delhi-NCR and Vizag ranging from ₹63,250 to ₹65,700 per tonne. Stronger primary-market demand, low distributor inventories, mill order backlogs and maintenance-related production constraints are supporting prices, although RINL’s resumed TMT rolling operations could gradually improve regional availability.

China's polypropylene prices surged to a historic high of Yuan 11,658 per ton in early November, marking a 77.47% year-on-year increase driven by soaring geopolitical costs and domestic supply contraction.

PT Krakatau Steel plans a $350 million stainless steel slab project in Indonesia aiming for 1.2 million tons annual capacity, projected revenues exceeding $2 billion, and strategic industry partnerships.

Nomura maintains a bullish outlook on India's steel sector, expecting domestic makers to benefit from price hikes absorbing raw material inflation through the first half of FY27, while retaining 'Buy' ratings on Tata Steel and JSW Steel.

IEEFA submitted feedback on India's draft National Steel Policy: Vision 2047, recommending strategies for raw material security in met coal and iron ore, and financing the sector's decarbonisation transition.

Remi Edelstahl Tubulars has secured orders worth Rs. 602.5 million for stainless steel welded and seamless tubes from leading private heat exchanger manufacturers in the thermal power sector.

US hot-rolled steel prices surged to $1,400 per ton, marking the highest level since May 2022, driven by new 50% tariffs on imported steel that restricted foreign supply and boosted domestic pricing power.