Mild Steel News Today

Price stability in South India's ferrous scrap market with categories like Godown Grade at Rs 35,300/ton. Demand remains active but finished goods sentiment dips. Cash flow shows instability. Imported scrap trade subdued in South Asia. MS scrap market stabilizing post-hikes, with cautious buyer sentiment.

This week, primary TMT prices surged while the secondary market declined. RINL's closure and SAIL's maintenance shutdown contribute to supply shortages. Despite short-term pressure in the secondary market, hope for market rebound exists.

Mills adjust prices to boost local demand amidst forecasts of rising prices and demand for flat products. JSW Steel's Indian operations see slight growth but face challenges, while proactive measures and governmental discussions anticipate future market upsurge.

SAIL's Bhilai steel mill is installing a 15 MW floating solar project to reduce carbon emissions and promote renewable energy. Anticipated to generate 34.26 million units annually, it marks a significant step towards sustainability.

Global steel scrap consumption dropped by 12% to 411.28 million tons in 2023, despite a 0.2% rise in steel production. Notably, all key scrap consuming regions, barring the U.S. and India, experienced a decline.

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.

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.

Canada Border Services Agency continues antidumping duty against welded pipe imports from Pakistan, Philippines, Turkey, and Vietnam, preventing potential dumping. Imposed duties range from 45.8% (Turkey) to 66.8% (Pakistan, Philippines).