Mild Steel News Today

Primary prices in the structure market have increased by Rs 500/mt this month for SAIL, JSPL, and RINL, while secondary market prices have declined upto Rs 300 in regions like Raipur, Durgapur, and Mandi. Supply challenges for Heavy Beams and Channels are being addressed with SAIL's rolling schedule. Secondary producers maintain adequate supply, but low demand is driving discounts.

Primary TMT prices remain stable across major markets, ranging between Rs. 50,000 and Rs. 52,000/mt. Demand has grown significantly, hinting at a potential price rise in the coming days. Efforts to restrict Chinese steel imports may further impact domestic prices. Meanwhile, the Visakhapatnam Steel Plant Union calls for a permanent solution to its financial challenges.

Stainless steel prices remain stable with a slight uptick in demand for 200 and 300 series. Nickel prices rebounded, closing at $15,963/mt, and have risen by $635/mt YTD. South Korea introduced a 21.62% anti-dumping duty on Chinese stainless steel plates, stabilizing its domestic market. Indian producers hiked 304-grade CR prices by Rs. 2,000/mt in response to global trends. Copper prices are supported by China's strong industrial output and GDP growth.

Chinese steel producers are cutting production due to falling domestic demand. Production has declined since 2024 but remains high. Domestic consumption is falling, and plants are unprofitable. China's steel consumption may drop by 525 million tons by 2030.

Government approves Rs 114.4 billion revival plan for Rashtriya Ispat Nigam Ltd (RINL). The plan includes Rs 103 billion in equity capital and conversion of Rs 11.4 billion loan into preference shares.

ArcelorMittal Nippon Steel to invest ₹8,500 cr to produce advanced automotive steel at Hazira plant, target 30-35% market share.

Andhra Pradesh CM, N. Chandrababu Naidu, confirms that saving the Visakhapatnam Steel Plant (VSP) is the state's responsibility and welcomes the allocation of Rs 11,440 crore special package for VSP.

ECoR launched an export route for BSRM Steel's Soft Billets from Odisha to Nepal, with plans for three rakes per month.

₹11,440-crore approved by Cabinet for RINL revival; includes ₹10,300 crore equity infusion and ₹1,140 crore working capital loan conversion.

Structure steel prices remain stable in the secondary market, while primary prices saw an increase of Rs. 500/mt. Supply issues in the primary market are being resolved, with heavy beams and channels expected to arrive soon. Secondary mills face no raw material shortages but are offering discounts due to subdued demand.