Stainless Steel News Today

LME's Nickel prices up by 0.47% to $20,140/ton. Steel scrap import offers up by 1.52% to $435-438/ton CFR India. SS 304 at Rs.200-203/kg, SS 316L at Rs.320-323/kg. Demand and supply balanced in 304 & 316L. Good demand for 201 grades.

Indian stainless steel prices soar to 6-month highs, with the 300 series at November 2023 levels. Global nickel prices drive the surge, hitting 8-month highs. Rising input costs prompt major producers to hike prices. Renewal of BIS license sparks concerns for imports.

Nickel opened at $19,620/ton, up 0.36%. SS prices: 304 CR wider 2B at Rs. 200-203/kg, SS 316L HR wider Rs. 320-323/kg. JSL's Q4 FY24 sales surged by 23%. China's bonds lift steel market sentiment. 304 and 316L anticipate moderate to robust performance.

Nickel up by 0.82% at $19,160/ton. SS prices vary: 304 CR wider 2B at Rs.197-200/kg and 316L HR wider at Rs.317-320/kg. Demand is balanced for 304 & 316L; limited interest in ferritic grades; good demand for 201 grades and 304 narrow sizes.

Steel bundled scrap import offers decreased by 1.39% to $424-427/ton CFR India, with SS 304 scrap at Rs 124/kg. Demand for SS 200 series scrap remains robust due to imported material shortage, while 304 and 316L scrap demand is balanced with supply.

Steel demand in China predicted to hold steady or increase slightly this year owing to anticipated 5% GDP growth, recovery in manufacturing sector demand, acceleration of fixed asset investment, equipment upgrades, and trading of consumer goods.

Australian researchers have made breakthroughs in material science, revealing new potential for Super Duplex Stainless Steel in advanced manufacturing, thanks to its unique properties, which can be manipulated via 3D printing.

China's steel industry predicted to remain stable this year due to steady economic recovery. Despite reduced demand from real estate, overall demand should be stable or slightly increase, supported by 5% GDP growth target.

JSW Steel Limited reported a 0.3% increase in India's consolidated crude steel output reaching 2.121 million mt in April 2021, despite iron ore availability constraints affecting production volumes at its Vijayanagar mill. Capacity utilization stood at 88%.

Finland's Outokumpu is partnering with Tetra Pak, using its Circle Green® steel to decarbonize the food and packaging industry. With a 93% lower carbon footprint, Circle Green® advances sustainable food processing machinery production. Agreement includes exploring additional applications.