Stainless Steel News Today

Steel prices have increased across regions due to supply shortages caused by maintenance activities at the Angul and Dolvi plants. Despite the usual monsoon lull, demand remains steady. Imports dropped 28.8% in Q1 FY2025, mainly from China and Japan. Domestic producers are adjusting pricing and production strategies amid rising orders and low distributor inventories.

Stainless steel prices remain stable in the 300 series, while the 200 and 400 series are witnessing strength due to limited imports and rising demand. Nickel is trading at $15,269/ton and copper at $9,793/ton. Scrap procurement remains active. Jindal Stainless has entered a strategic partnership with Gati Shakti Vishwavidyalaya to promote research and academic collaboration in steel applications.

Utility Global's H2Gen system, producing 3 tons of clean hydrogen daily from blast furnace gas, offers a cost-effective model for Indian steelmakers like Tata Steel to decarbonize without electricity.

Jindal Steel Chhattisgarh will invest $12.13 billion in a 7.5 million mt/year steel mill and 2.9 GW of thermal and solar power plants in Chhattisgarh, India.

India Green Steel Coalition's whitepaper promotes green steel in automotive, infrastructure, and construction. By 2030, the green steel premium is expected to drop from USD 210/tonne to USD 7/tonne.

Jindal Stainless uses advanced stainless steel and digitalization to drive India's smart infrastructure, including underwater metros, electric buses, and a green hydrogen plant, targeting a 50% carbon intensity reduction by 2035.

India plans to mandate 25% of public steel purchases be green steel, boosting eco-friendly production and reducing emissions by up to 58%.

Global steel overproduction, projected to hit 721M tons by 2027, is impacting prices and jobs. No country wants to cut production due to economic and national security concerns.

Indian government is planning to mandate public procurement of green steel. A Green Steel Mission with an estimated cost of ₹15,000 crore is under development.

Iron ore futures secured a fifth straight weekly gain despite increased port inventories and weaker global steel production.