Stainless Steel News Today

Primary TMT prices have seen a sharp increase in March 2025, with rates in Mumbai and Delhi NCR at Rs. 56,000-56,500/mt, while Vizag stands lower at Rs. 53,500-54,000/mt. Distributors have raised prices due to ongoing supply constraints, and further hikes are expected.

Global infrastructure projects announced: A$400 million rail terminal in Sydney, C$137.2 million biomanufacturing plant in Edmonton, and $3.45 billion steel plant expansion in Rourkela.

Structural steel prices remain firm across both primary and secondary markets, driven by strong infrastructure demand and rising input costs. Durgapur and Chennai saw price hikes due to supply constraints, while the secondary market remains stable with moderate demand in Raipur and Hyderabad. Traders are advised to secure stocks early amid expected price increases.

The Indian flat steel market is witnessing strong demand, with a projected growth rate of 8-9% in 2025, driven by infrastructure, housing, and engineering sectors. However, rising imports from China and other countries pose a challenge to domestic producers. While domestic prices remain stable in most regions, global HRC prices are under pressure. The industry remains optimistic but cautious.

India's DGTR recommends a 12% provisional safeguard duty on certain steel products for 200 days to protect domestic industry. This follows 45 anti-dumping and 3 countervailing investigations in 2023.

Tata Metaliks, a major pig iron producer from eastern India, has further raised prices by Rs 1,000/mt. Post revision, offers for Foundry Grade (FG) stand at Rs 40,000/mt and for Basic Grade (Blue) at Rs 37,500/mt, ex-plant, Kharagpur, West Bengal. These prices are applicable to the Kolkata and Howrah markets. Prior to this, a Rs 1,000/mt hike was announced on March 11, 2025.

Structural steel prices remain firm, with the primary market seeing steady demand from infrastructure projects and rising mill input costs. The secondary market is witnessing moderate momentum, with fluctuating scrap prices and freight costs influencing regional disparities. Market participants should prepare for further price hikes in key profiles.

South Korea's Trade Commission will decide on anti-dumping tariffs on Chinese and Taiwanese petrochemical products, potentially ranging from 4.45% to 18.52%, by the first half of this year.

India challenges EU's new steel import safeguards at WTO, citing potential harm to its steel industry after exporting $6.64 billion worth of steel to the EU in FY24.

NMDC Steel shares surged 7.5% after DGTR recommended a 12% safeguard duty on flat steel products for 200 days. Other steel stocks saw gains of 2-4%.