Stainless Steel News Today

Q1 galvanizing rates were weaker YoY. Q2 expects a turnaround due to delayed peak season, infrastructure growth, and significant 15th Five-Year Plan investments: 700,000 km pipelines and 5 trillion yuan for power grid.

Experts advise booking profits in metals. Nifty Metal gained 7.8%. Aluminium prices may drop from $3,000 to $2,600-$2,700, and steel prices are near peak. Hindalco rose 24%. Maintain stop losses.

Jogindra Group plans a Rs 11 billion investment in Punjab for steel manufacturing and renewable energy projects. This aims to develop new facilities and expand operations, boosting industrial capacity and supporting regional supply chains.

India's metal & mining sector expects recovery from domestic demand, commodity price rebound. Steel prices since Dec 2025 will boost Q4 FY26 profitability. Geopolitical issues impacted ~9% global aluminum supply, surging prices. Strong EBITDA growth.

The Indian stainless steel market held steady this week with zero week-on-week price movement across both Cold Rolled and Hot Rolled Coils, signalling a consolidation phase amid stable raw material dynamics. Average traded prices across key cities stood at approximately ₹2,60,500/MT, with the broader category registering a modest 1.94% month-on-month uptick. While the wider steel ecosystem — particularly TMT bars and structural steel — is seeing bullish momentum driven by India's infrastructure push, stainless steel demand drivers remain more sector-specific and subdued in the near term.

India's steel prices faced pressure in FY2025/26, with a 2% index decline. However, production surged 11% to 168MT, consumption rose 7%, and exports increased 30%, supported by policies despite global headwinds.

Emkay prefers SAIL, Jindal Steel, and Vedanta in metals, citing geopolitical tensions boosting domestic steel prices (HRC up 16%, rebar 22% YTD) and aluminium ($3,200-$3,500/tonne). Outlook is neutral-to-positive despite Nifty Metal's 11% correction.

The government launched a Cost Escalation Compensation Mechanism for National Highway projects from April 2026. It reduces WPI lag from three to one month, enabling monthly payments for fuel, bitumen, steel, and cement costs, improving cash flow and preventing project delays.

The Indian structural steel market is witnessing a strong rally, with [MS Beam and Channel prices] trending toward ₹61,000/MT. Driven by a ₹12.2 lakh crore government capex push and supply disruptions in the LNG-reliant secondary sector, the market remains undersupplied. Short-term expectations are bullish, as domestic producers leverage high infrastructure demand and restricted imports to maintain firm pricing.

The Indian TMT market is entering Q2 2026 with strong bullish momentum. Driven by aggressive infrastructure spending and a surge in raw material costs, TMT steel bar rates have seen a structural reset. While primary producers maintain firm quotes near ₹61,000/MT, secondary mills are grappling with high energy costs, ensuring prices remain elevated despite the approaching monsoon season.