Stainless Steel News Today

China's PP market faces significant oversupply in H2 with 3.80 million t/y new capacity coming online. This, combined with unit restarts and seasonal demand lull, will exacerbate risks.

Taiwan's iron and steel exports decreased 8.1% to $6.91 billion in Jan-Jun. June exports were down 11.1% to $1.06 billion. Imports in June rose 22.2% to $1.15 billion.

Iron ore prices were range-bound as potential BHP strike threats countered weakening demand in China, where daily crude steel output fell 3.6% to 2.66 million tons, curbing gains despite supply worries.

Japan imposed 4-month provisional AD duties (3.6%-42.1%) on nickel-based cold-rolled stainless steel from Taiwan and China, effective July 8, 2026, targeting specific HS codes.

SAIL's Bokaro Steel Plant will receive 8.3 MT iron ore annually via a 258km slurry pipeline, eliminating rail dependence. This Rs 15,000 crore expansion boosts crude steel capacity from 4.65 to 7.25 MTPA, ensuring reliable supply and sustainability.

Local shipbuilders urge the government to revise commercial shipbuilding tender terms. They seek an Exchange Rate Variation clause, a cap on liquidated damages, steel price indexation, and lower bank guarantees, aligning with PSV tender norms for balanced risk and wider participation.

India's HRC market witnessed a sharp decline in imports during June as higher landed costs, safeguard duties, and an anti-dumping investigation curbed overseas buying. While domestic demand remained subdued, exports improved, led by strong shipments to Vietnam. India is now poised to become a net HRC exporter during July.

China's PE supply is projected to increase by 280,000 tonnes in July. This rise is driven by a 180,000-tonne boost in domestic output, primarily LLDPE, and an additional 100,000 tonnes from imports.

PVC prices are supported by higher calcium carbide costs but gains are capped by weak domestic and overseas demand amid long-term oversupply, causing fluctuations at lows this week.

China's PP market in H2 2026 will shift from geopolitics to supply-demand fundamentals as price drivers. Prices touched Yuan 10,000/tonne in H1 due to a war-driven rally.