Asia’s Forged Stainless Steel Bar Market Set to Recover as India Leads Exports
Asia’s forged stainless steel bar market is showing signs of a slow recovery after years of decline. As per a report by IndexBox, the market stood at US $8.1 billion in 2024, with total consumption at 2.4 million tonnes. Analysts...
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India’s Stainless Steel Scrap Prices Remain Under Pressure amid Weak Demand
India’s stainless steel scrap prices continued to drop this week as weak buying interest and sufficient scrap availability weighed on the market. Additionally, mills preferred using nickel pig iron (NPI) and semi-finished products, which reduced the need for scrap. BigMint...
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IMFA to Acquire Tata Steel’s Ferro Chrome Plant in Kalinganagar for Rs 610 Crore
Indian Metals & Ferro Alloys Ltd (IMFA), India’s leading fully integrated ferro alloys producer, has signed agreements to acquire Tata Steel’s ferro chrome plant in Kalinganagar, Odisha. Established in 1961, IMFA will purchase the facility for Rs 610 crore. The...
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India’s Stainless Steel Market Stays Sluggish Despite BIS Import Relaxation
India’s stainless steel market remains sluggish even after imports resumed following the Bureau of Indian Standards (BIS) relaxation. Domestic demand for stainless steel products has weakened, and market sentiment stays subdued. Moreover, import flows restarted quickly once the regulatory relief...
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Govt Launches Third Round of PLI Scheme to Boost Stainless Steel and Specialty Steel Production
The government launched the third round of the Production-Linked Incentive (PLI) scheme for Specialty Steel on Tuesday. It also aims to accelerate stainless steel production and promote domestic manufacturing under the Aatmanirbhar Bharat vision. Union Minister H.D. Kumaraswamy led the...
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Stainless Steel Scrap Prices Slip in India amid Weak Demand and Ample Supply
India’s stainless steel scrap prices fell last week as weak buying and ample scrap supply dampened the market. Many mills turned to cheaper alternatives such as nickel pig iron (NPI) and semi-finished products to cut costs and manage cash flow...
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