Stainless Steel News Today

Tata Steel invested USD 300 million (₹2,603.16 crore) to acquire over 191 crore equity shares of its Singapore subsidiary, T Steel Holdings Pte Ltd.

Tangshan steel mills' price hikes nudged local iron ore concentrate prices upwards. Improved trading, low inventories, and high surrounding resource costs support moderate producer sentiment. Upward potential remains.

Structure steel prices saw mixed trends, with primary players SAIL, JSPL, and RINL raising prices this month by Rs 500/MT, while the secondary market declined due to weak demand. Heavy beams, angles, and channels in the primary market are selling out fast, causing supply constraints. Experts anticipate continued weakness in the secondary market as demand remains subdued.

Primary TMT prices increased across North, West, and South India, with Mumbai and Delhi NCR rates touching Rs 52,500/MT. Demand is expected to grow by 8-9% in 2025, driven by infrastructure and construction projects. However, competitive imports, especially from China, continue to challenge domestic manufacturers. Experts warn that market volatility and imports may impact pricing, making government intervention crucial for industry stability.

The flat steel market remained stable, with no major price changes in HRC and CRC across key locations. Demand is expected to grow by 8-9% in 2025, driven by infrastructure and housing projects, despite challenges from rising imports. Ex-India HRC prices are steady due to sluggish trading activity, and market sentiment remains cautiously optimistic.

BMI lowered its 2025 Australian coking coal price forecast to $200/t from $220/t, citing weak demand, low steel production growth, and US policy impacts. 2024's average was $197/t.

Liaoxi iron ore concentrate prices rise slightly to 710-715 yuan/mt as production resumes after cold weather. Steel mills bargain hard, but future prices may increase.

Ukraine's steel product consumption surged 115.6% in January 2025 to 297.1k tons. Domestic production rose 7.2%, while exports fell 28.5%. Imports climbed 27.1% to 103k tons.

Potential steel safeguard duties worry MSMEs. The government is exploring ways to provide steel to MSMEs at international or export prices, but implementation is challenging.

L&T acquired the remaining 26% stake in L&T Special Steels and Heavy Forgings from NPCIL for ₹170 crore, making it a wholly-owned subsidiary.