Mild Steel News Today

Primary TMT prices continue to rise across regions amid a market shortage and earlier bulk purchases by contractors in March. India’s steel demand is projected to grow by 8–9% in 2025, with infrastructure and housing continuing to lead consumption. While current prices remain high, they may ease as buying activity slows.

JSW Steel to invest ₹50,000-60,000 crore in a 10 MTPA green steel plant in Maharashtra over 3-4 years. The plant will initially use natural gas and later switch to hydrogen.

Feng Hsin Steel, Taiwan’s top rebar producer, has cut rebar list prices by TWD 300/mt ($9.2/mt) for April 14–18 transactions. The mini-mill also lowered domestic scrap buying prices by TWD 500/mt compared to late March. Last week’s pricing meeting was cancelled as the company opted to observe market trends post the April 3–6 holiday, including Qingming Festival and Children's Day, according to reports.

Shagang Group, a major Chinese steelmaker, has kept its long steel prices unchanged for April 11–20 sales, ending a streak of reductions since mid-March. Prices for rebar, wire rod, and bar-in-coil remain steady, with HRB400 16-20mm rebar still at Yuan 3,350/tonne ($459/t). This price stability reflects a cautious market stance as the company evaluates future demand and supply dynamics.

Global zinc production cuts by Nyrstar and Teck position India as a key export hub. India's zinc demand projected to grow by 6.4% in 2025 and 7% in 2026.

SBI board approves RINL's ₹20,000 crore restructuring plan, including lower interest rates and margins, after a ₹10,300 crore government infusion.

Chennai's new 36-meter, six-lane steel bridge over Buckingham Canal, costing ₹37 crore, will connect OMR and ECR, diverting 40% of traffic and improving commute times.

The UK government has taken control of the Chinese-owned British Steel plant in Scunthorpe to prevent its closure and save thousands of jobs. The plant produces steel for UK construction and rail transport.

UK considers state intervention for its steel industry, while India, the 2nd largest producer, targets 300mt steel production by 2030 with private sector playing a major role.

Primary TMT prices increased across Mumbai, Delhi NCR, and Vizag due to increased distributor rates and strong demand from infrastructure projects. India continues to show strong steel consumption despite a global decline, driven by active tenders and capacity utilization. Rising costs and delayed projects, however, are expected to impact overall steel exports.