Stainless Steel News Today

India steel prices today remained under pressure as elevated inventories and cautious buying sentiment weighed on the longs segment. Rebar prices fell to multi-month lows, while HRC prices in India stayed largely stable due to resilient manufacturing demand. Softening raw material costs and monsoon-related demand weakness continue influencing market direction.

Japan will impose anti-dumping duties on certain stainless steel products from China and Taiwan starting next month. This measure targets unfair trade practices.

China's iron ore concentrate market weakened, with western Liaoning down 1-5 yuan/mt, while east China rose 10-15 yuan/mt. Next week, prices may edge down as steel mill profits face pressure from coke price hikes.

Indian shipyards struggle to source local shipbuilding steel, impacting the 40% indigenous content target for ₹20,416 crore state aid. Issues include quality, cost, and supply, forcing imports and hindering the "Make in India" goal for 437 planned vessels.

China's stainless steel futures rebounded RMB 355/mt on June 15-19, 2026, despite a hawkish Fed. Supply tightening and firm mill pricing lifted prices, overcoming macro whipsaws.

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.