Stainless Steel News Today

Indian small steelmakers cut output by up to a third due to weak construction demand, monsoon, and rising costs. Prices fell to a six-month low of 49,144 rupees/ton, impacting 45% of India's 200 MT capacity.

The US has threatened to impose high tariffs on imports from China on October 10 (Friday). This move will cause changes in trade flow of China's PP exports, and the indirect impacts on China's PP imports cannot be ignored.   The United States suddenly announced on social media platforms on October

China's urea market is expected to remain weak in Q4, despite stronger sales, primarily due to high production and recent year-to-date lows. Continuous rainfall also impacted trading volumes.

JSW Steel will consolidate US operations, merging units like Baytown and Ohio, and select Indian subsidiaries to streamline structure and boost efficiency. The stock gained 29% YTD.

Japan's crude steel output is projected to drop 2.4% in the Oct-Dec quarter, marking the eighth consecutive quarterly decline. This is attributed to weak exports and sluggish domestic demand.

Dalian iron ore futures dropped to a more than six-week low on Thursday. This decline is driven by expectations of falling demand in top consumer China, impacting global markets.

Flat steel prices remained largely unchanged across key Indian markets. Weak domestic demand, inventory pressures, and cautious production by smaller mills keep HRC under stress. Exports hit a 1.5-year high in September, driven by EU and Middle East shipments. Market sentiment remains cautious amid policy uncertainty and potential safeguard duties.

TMT bar prices remained largely stable with a mild upward trend across regions. Improved post-monsoon demand and festive season buying are driving gradual recovery. Primary mills announced a ₹1,000/ton price hike, supported by healthy distributor inventories and stable supply. The sector also saw key policy and sustainability developments.

Taiwan's Yusco & Tang Eng filed an AD complaint on Oct 9 against Vietnam's cold-rolled stainless steel. They claim low-priced imports, surging in 2024, severely injure the domestic industry, causing market share and profit drops, seeking immediate duties.

Iron ore futures fell for a second straight session, driven by concerns over demand outlook due to worsening US-China trade tensions and rising steel stocks in top consumer China.