Latest news on stainless steel

India requires imported stainless steel pipes to carry the BIS mark

According to a notification issued by the Department for Promotion of Industry and Internal Trade (DPIIT) on February 10, the new Stainless Steel Pipes (Quality Control) Order 2025 stipulates that these products shall not be manufactured, sold, traded, imported or stored unless they carry the Bureau of Indian Standards (BIS) mark. The order will come into effect on August 1.

However, the measure allows up to 500 kilograms of such goods imported for research and development purposes each year, if not for commercial sales, to be exempted. Violations of the Bureau of Indian Standards Act may be punishable by penalties, including imprisonment of up to two years, and for repeat offenders, fines starting from 200,000 rupees and up to 10 times the value of the goods. The Department for Promotion of Industry and Internal Trade continues to play a key role in protecting the industry and consumers by issuing quality control orders.

India may impose temporary tariffs on Chinese steel

H.D. Kumaraswamy, India's Minister of Steel, said on February 11 that India may impose a temporary tariff of 15%-25% on steel products from China in the next six months because steel products imported from China have brought great challenges to the Indian market.

The Indian Minister of Steel said: "According to the ongoing investigation, the tariff rate of the protection tax will range from 15% to 25%. If the proposal to impose temporary tariffs is passed, it may be valid for up to two years."

It is reported that in addition to the reason of protecting the domestic market, it is also because the US tariffs may cause more exporters to export steel products to India.

The minister also said that Indian steel producers are also looking for new markets, such as Africa, the Middle East and Southeast Asia.

Global nickel prices may usher in a new round of growth?

According to reports, the Indonesian government recently revealed plans to re-evaluate the work plan and budget costs of nickel mining, intending to use this measure to regulate nickel ore production in 2025.

As the leader of global nickel ore supply, Indonesia's production control policy has a significant impact on international nickel prices. Indonesia's move immediately attracted great attention from the international market, and many institutions began to analyze it. Analysts at Macquarie Bank in London released the latest research report, pointing out that if Indonesia cuts nickel production to 150,000 tons per year as planned, the international nickel price is expected to break through the $20,000 per ton mark.

According to reports, analysts generally believe that Indonesia's production cut plan will have a profound impact on the global nickel ore supply pattern, thereby pushing the international nickel price into a new round of rising cycle.

India's JSW Group builds a new steel plant with an annual production capacity of 25 million tons

Sajjan Jindal, chairman of India's JSW Group, said in a statement on February 10 that the group has determined a plan to invest 1 trillion Indian rupees (about 84.4 billion yuan) to build a new steel plant with an annual production capacity of 25 million tons in Gadchirolli District, Maharashtra.

Jindal said the Gadchirolli plant will not only be the "largest in the world" but also the "most beautiful and environmentally friendly" steelmaking plant. The first phase of the project is expected to be completed in four years, and he also said the project is India's most ambitious and will be completed in seven to eight years. Once completed, Gadchirolli will become India's largest steelmaking center and a memorandum of understanding has been signed with the Maharashtra government.

Currently, JSW Steel Limited, a subsidiary of JSW Group, has an annual installed capacity of 28 million tons.

ArcelorMittal to build an advanced steel manufacturing plant in the United States 

ArcelorMittal said on Thursday that it will build an advanced steel manufacturing plant in Calvert, Alabama, in the United States to increase production capacity to meet the needs of the US automotive industry.

The world's second-largest steelmaker said the plant will be able to produce up to 150,000 tons of high-quality non-grain-oriented electrical steel (NOES) per year, mainly for the manufacture of large cars, full-size pickup trucks and SUVs.

ArcelorMittal said the plant, which is estimated to cost $900 million to build, is expected to start production in the second half of 2027.

From a broader perspective, the U.S. auto market has been changing in recent years. Driven by hybrid models, new car sales in the United States reached a five-year high in 2024, according to Wards Intelligence.

Automakers expect strong sales momentum to continue through 2025, although U.S. President Trump's auto policies, such as the elimination of tax credits for electric vehicles, may bring uncertainty to the industry. However, even in the face of challenges, the automotive industry's demand for high-end steel remains unabated, which also provides stable market support for suppliers such as ArcelorMittal.

Hyundai Steel is considering building its first overseas steel plant in the United States

Hyundai Steel Co., Ltd., a subsidiary of South Korea's Hyundai Motor Group, is also making big moves. In response to stricter trade regulations introduced by the new U.S. government, Hyundai Steel is considering building its first overseas steel plant in the United States. It is reported that Hyundai Steel is finalizing a plan to build a sustainable steel production plant near New Orleans, Louisiana, with an investment of 100 trillion won, about 6.9 $billion, equivalent to about 50.3 billion yuan.

The plant mainly supplies automotive steel to Hyundai Motor Group, which has a Hyundai Motor production plant in neighboring Alabama and a Kia Motors plant in nearby Georgia. At the end of 2024, Georgia will also put into operation a third plant, mainly producing Hyundai and Kia brand electric vehicles and hybrid vehicles. Hyundai Steel's move can not only meet the group's internal automobile production steel needs, but also effectively reduce trade risks, reduce logistics costs, and enhance its position in the global automotive steel market.