Stainless Steel News Today

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.

Stainless steel prices in India remained under pressure in early July as falling LME nickel prices, weak monsoon demand, and cautious mill procurement weighed on market sentiment. Mills cut coil prices while scrap values declined sharply. Despite long-term growth potential, near-term buying is expected to remain need-based amid ample supply and subdued downstream demand.

India launched its first EXIM shipping container, challenging China's 90-97% monopoly. A ₹10,000 crore scheme and Maersk's 1,000-container order aim to build a domestic industry, reducing import dependence and creating jobs.

Indian steelmakers urge government to reinstate quality control on stainless steel imports due to a surge in low-priced Chinese products. Imports hit 101,252 tons in April, up 65% year-on-year, with China's exports doubling.

TMT rebar prices in India extended their decline in early July, weighed down by weak construction demand, ample inventories, and the seasonal impact of the monsoon. While steel mills continue to face pricing pressure, expectations of stronger infrastructure activity after the rains could help stabilize prices in the coming months.

Jindal Stainless cut prices effective July 6, 2026: 304/304L by ₹5/kg, 316/316L by ₹7/kg, and 430 by ₹3/kg. 200 series prices remain unchanged.

Tata Steel plans ₹20,000 cr capex in FY27, a 38% rise, with 60% for India operations. Focus is on capacity expansion to 50 MT, technology, and key projects like tinplate, wires, and a greenfield steel plant.