Daily Market Report

Stainless steel prices remain firm, with nickel opening 0.71% higher at $16,350/mt and the INR strengthening to 85.67/USD. The 300-series demand is seeing marginal improvement despite cash constraints, while the 400-series continues its upward trend. The 200-series is benefiting from a shortage of imports, further driving domestic demand. Industry experts anticipate price increases in the 300 and 400 series.

Stainless steel prices remain firm as demand patterns shift. The 200 series continues to see strong domestic demand due to import shortages, while the 300 and 400 series show gradual improvement. China’s stainless steel imports dropped by 29.3% YoY, while exports went up. Experts anticipate price firmness across all series, with the USD exchange rate and regulatory factors playing key roles.

Stainless steel prices remain firm, with the 200 series seeing rising demand due to limited imports. Taiwan’s stainless steel prices are set for a sharp April increase following Indonesia Tsingshan’s price hike. Meanwhile, copper prices approach record highs due to U.S. trade concerns. Experts anticipate price firmness across all stainless steel series due to market and regulatory factors.

Stainless steel prices remain mixed in India as 200 series demand surges amid an import shortage. 300 series prices may rise due to a strong USD, while 400 series remains firm on BIS-related issues.

Aluminium prices opened lower on LME, SHFE, and MCX, reflecting minor corrections. China’s February output dropped month-on-month but grew year-on-year. India imposed anti-dumping duties on aluminium foil and other products to curb cheap imports from China. Global primary aluminium production increased 2.7% in January, signalling a stable supply outlook.

Stainless steel prices remain stable with slight upward movement, driven by global supply constraints and rising raw material costs. Nickel prices continue to fluctuate due to Indonesian tax policies and adverse weather conditions. The 200 series sees strong domestic demand due to limited imports, while the 300 and 400 series are witnessing moderate growth despite cash flow constraints.

Stainless steel prices remain stable with slight upward movement, driven by global supply constraints and rising raw material costs. Nickel prices continue to fluctuate due to Indonesian tax policies and adverse weather conditions. The 200 series sees strong domestic demand due to limited imports, while the 300 and 400 series are witnessing moderate growth despite cash flow constraints.

Stainless steel prices remain firm despite fluctuating nickel and copper rates. The 200 series continues to see strong demand due to limited imports, while the 300 and 400 series are showing gradual improvement. The overall market is expected to remain stable, with price trends influenced by global trade policies and currency fluctuations.

Stainless steel prices remain firm as 200 series demand strengthens due to import shortages. The 300 series is seeing slight improvement, while the 400 series maintains steady demand. Nickel prices continue to rise, pushing stainless steel prices higher. With the USD strengthening, the 300 series is expected to see further price increases.

Stainless steel prices remain strong, driven by increasing raw material costs, supply constraints, and higher demand. Nickel prices opened lower, but domestic rates for 304, 316L, and 201 grades have increased. The 200 series is performing well due to limited imports, while 300 and 400 series prices remain firm. Global price hikes, including Tsingshan’s fifth increase in March, are influencing local markets.

Zinc prices remained volatile, with LME zinc closing higher at $2,985.5/mt, SHFE zinc at 24,140 yuan/mt, and MCX zinc gaining 0.74% to ₹280.65/kg. Supply concerns intensified after Nyrstar announced a 25% production cut at its Hobart smelter in Australia, while global zinc output continued to decline. LME on-warrant stocks fell to their lowest since November 2023, signaling tightening availability. Experts see support at ₹279.2 and resistance at ₹282.1, with a potential breakout toward ₹283.5.

Nickel and copper prices rise as stainless steel markets see mixed trends. Demand for the 300, 400, and 200 series fluctuates, while global trade policies, including US and South Korean tariffs, impact pricing and supply dynamics.