The Indian Stainless Steel Development Association (ISSDA) has recently urged the government to permanently remove customs duties on imported scrap and ferroalloys, and to classify chromium as a critical mineral, in order to support the country’s planned expansion of stainless steel capacity from 7 million mt to 11 million mt. At the same time, ISSDA has also called for stronger measures to address the impact of low-priced Chinese products, warning that some Chinese material may be entering India through third countries such as Vietnam, thereby bypassing existing trade protection measures. These statements suggest that the Indian stainless steel industry is no longer simply asking for “growth support.” Instead, it has entered a more complex phase, where it wants to accelerate capacity expansion while also defending itself against external competition. Capacity Expansion Is Clear, and India’s Stainless Steel Industry Has Entered a Critical Phase At first glance, these may look like two conflicting policy demands. On the one hand, the industry wants lower import duties on raw materials to reduce production costs. On the other hand, it is asking the government to tighten import restrictions and strengthen trade protection. But when viewed within the broader industry cycle that India’s stainless steel sector is currently going through, these two demands are not contradictory. They are simply two sides of the same expansion cycle. For domestic stainless steel producers in India, the most important goal over the next few years is to build up local supply capacity while domestic demand is still growing. ISSDA has previously estimated that stainless steel demand in India will continue to grow by 7%–8% annually over the next two to three years. Against this backdrop, the industry wants to keep raw material costs as low as possible during the expansion phase, while also preventing low-priced imported finished products from eroding returns before local capacity expansion is complete. In other words, what worries India’s stainless steel industry most right now is not the absence of market demand, but the possibility that demand exists while the gains from expansion are undermined by imports. That is why ISSDA is simultaneously calling for the permanent removal of duties on scrap and ferroalloy imports, while also highlighting the threat posed by low-priced Chinese products. In the industry’s view, lower tariffs on raw materials would improve the competitiveness of domestic manufacturing, while stronger protection on finished products would buy time for local investment, expansion, and capacity ramp-up. This policy logic of “opening the upstream while defending the downstream” is, in essence, a typical industrial development strategy. Raw Material Security Has Become the Core Condition Behind Expansion This also reflects the industry’s growing concern over raw material supply. Scrap and ferroalloys are key inputs for stainless steel production, while chromium is a critical element in the stainless alloy system. ISSDA’s specific call to classify chromium as a critical mineral shows that its focus is no longer limited to short-term price issues, but has shifted toward medium- to long-term resource security. India has long been the world’s largest importer of stainless steel scrap. Data shows that its stainless scrap imports rose to 1.58 million mt in 2025, up significantly from 2024, further underscoring India’s continued reliance on overseas scrap supply. For a country aiming to expand stainless steel capacity from 7 million mt to 11 million mt, whether the raw material supply system can scale up in parallel will directly determine whether that expansion can actually be delivered. If import costs for scrap and ferroalloys remain high, or if chromium supply security proves insufficient, then even the most ambitious capacity plans could face rising costs, margin pressure, or slower project execution in practice. From the industry’s perspective, therefore, removing duties on imported raw materials and strengthening critical mineral management are not isolated policy demands. They are essential supporting measures for the broader expansion target. India’s stainless steel industry wants to secure the raw material base first before further releasing capacity, reflecting a deeper concern for supply chain completeness and long-term sustainability. Demand Continues to Grow, but Cheap External Supply Creates Real Pressure On the demand side, India is still seen as one of the most important growth markets for stainless steel consumption globally. With the development of manufacturing, continued infrastructure investment, and upgrading in end-use consumption, India’s stainless steel demand is expected to maintain relatively strong growth, providing a solid foundation for capacity expansion. The challenge, however, is that demand growth does not automatically mean domestic producers will benefit. If most of the incremental demand is captured by imported material, India may see consumption expand without domestic industry benefiting to the same extent. In this context, ISSDA’s concerns over Chinese oversupply spilling into India become particularly sensitive. According to media reports, ISSDA believes China has more than 8 million mt of excess stainless steel melting capacity, and that this material is seeking overseas outlets, with India standing out as one of the most attractive target markets. The reason is straightforward. On the one hand, India is itself a growth market. On the other hand, its domestic supply system is still in the process of expanding and has not yet built an unshakable market barrier, making it more exposed to external supply pressure. For Indian mills, this pressure is not only reflected in price competition, but also in investment expectations. When an industry is in the middle of an expansion phase, companies need a relatively predictable margin environment to support new investments, depreciation costs, and capacity ramp-up. If large volumes of low-priced imports continue to flow in during this period, domestic producers may struggle to convert rising demand into actual returns. The Risk of Rerouted Trade Is One of India’s Bigger Concerns Another important point in ISSDA’s latest statement is the issue of rerouted trade. The association warned that some Chinese steel products may be entering India through third countries such as Vietnam, thereby bypassing existing trade protection measures. This concern is easy to understand. In recent years, amid ongoing global trade friction and stricter origin management, practices such as third-country rerouting, supply chain detours, and origin restructuring have come under increasing scrutiny. For India, this means that even if trade protection measures exist on paper, actual import pressure may not disappear in practice. In other words, what truly concerns the industry is not simply whether tariffs or barriers exist, but whether these measures can actually work as intended. If external supply can continue entering India through more complex trade routes, then the competitive pressure facing domestic producers will not ease in any meaningful way, weakening the real impact of policy protection. India’s Core Objective Is to Turn Demand Advantage Into Industrial Advantage At a deeper level, India’s stainless steel industry is moving from a stage of demand-driven growth to one of broader industrial competition. In the past, discussion of India’s stainless steel market often focused on its consumption growth potential, including its large population base, urbanization, and manufacturing upgrade. But as consumption continues to expand, the question is no longer simply whether demand will grow, but who will ultimately capture that growth. If domestic demand keeps rising while most of the incremental market is filled by imports, India may become a major consumption market without necessarily becoming a true manufacturing powerhouse. What ISSDA is now pushing for is, in effect, the key step needed to turn India’s demand advantage into industrial advantage. That is why the industry is asking the government to lower upstream raw material costs while at the same time strengthening trade defense at the finished-product end. The underlying logic is not simply to reject imports, but to create a more supportive environment for domestic manufacturing to grow and attract investment. The Direction of Future Policy Is Worth Watching Viewed within the broader competitive landscape of the Asian stainless steel market, India’s position is actually becoming quite clear. It does not want to remain merely a consumption market. It wants to become a more complete domestic manufacturing center. That means its policy stance is likely to continue along a dual-track approach: more openness toward key raw materials, and greater caution toward finished-product imports. For the market, there are several developments worth watching. First, whether India will further reduce import duties on scrap and ferroalloys on a long-term basis, or even establish a more stable policy framework for raw material support. Second, whether chromium will be formally included in the country’s critical mineral system, thereby strengthening resource security. Third, whether India will step up anti-dumping, anti-circumvention, and origin-related scrutiny, especially against third-country rerouting paths. If these directions gradually materialize, they could reshape competition in India’s stainless steel market, alter its import structure, and even change broader resource flows across Asia. Conclusion Overall, ISSDA’s latest public stance does not simply signal another trade friction issue. It reflects the broader priorities of India’s stainless steel industry as it enters a new stage: securing raw material supply and cost competitiveness for expansion, while also preventing low-priced external supply from undermining domestic industry during a critical window. Whether India’s stainless steel story can evolve from one of consumption growth into one of manufacturing rise may depend not only on the pace of demand growth itself, but also on whether the government can build a policy mix that effectively balances resources, tariffs, and trade protection in a way that genuinely supports domestic industrial upgrading. Written by: Bruce Chew | bruce.chew@metal.com +601167087088

The Indian Stainless Steel Developers Association (ISSDA) is urging the government to permanently eliminate customs duties on imported scrap and ferroalloys and to designate chromium as a critical mineral, aiming to support the sector's capacity expansion from 7 mt to 11 mt. With domestic consumption growing at 7-8% annually, the industry is simultaneously seeking stricter protection against Chinese dumping, warning that China is diverting its over 8 mt of excess melting capacity to India, frequently by rerouting shipments through countries like Vietnam to bypass existing trade safeguards.

South Africa's Eskom applied to the energy regulator for approval of an interim electricity tariff, offering an 87 cents/kWh preferential rate for Samancor Chrome and the Glencore-Merafe Chrome joint venture. This is a temporary measure aimed at maintaining smelter operations, while parties continue to negotiate a longer-term solution with the goal of further reducing the tariff to 62 cents/kWh. The utility also requested the National Energy Regulator of South Africa to extend the "take-or-pay" obligation exemption for the two enterprises by another 12 months. The exemption pertains to obligations under pricing agreements negotiated with Eskom that took effect in 2024. These agreements stipulate that ferrochrome producers must meet at least 70% of their contracted electricity consumption; however, due to the industry's loss of competitiveness and multiple smelter shutdowns, this condition can no longer be fulfilled. In August last year, Samancor Chrome and the Glencore-Merafe Chrome JV cited operational difficulties arising from these clauses, prompting the regulator to approve a six-month exemption, which is set to expire at the end of January. Eskom's distribution unit head, Gugulethu Dumakude, acknowledged that the interim tariff of 87 cents/kWh is still not enough to restore ferrochrome producers to the production levels envisaged in the pricing agreements, but it would help them slightly increase electricity consumption from current levels. She added that this interim tariff, combined with the "take-or-pay" exemption, would also provide Eskom and the Department of Mineral Resources and Energy with buffer space to finalise a more sustainable electricity pricing solution with the ferrochrome industry. Neels Best, President of the South African Ferroalloy Producers Association, confirmed that the industry needs a tariff of 62 cents/kWh to resume production and avoid the Section 189 retrenchment processes already initiated by several ferroalloy enterprises, including those outside the ferrochrome sector. Therefore, he also argued that the final negotiated solution should not be limited to the ferrochrome industry but should extend to manganese, silicon, and vanadium smelters—all of which are facing operational difficulties due to "escalating electricity prices." Best pointed out that only 4 of South Africa's 48 electric furnace ferrochrome smelters are currently operating; likewise, only 4 of the 19 smelters in other ferroalloy sectors remain in production. He stated, "Today, electricity costs account for 40% to 60% of total production costs in the ferroalloy industry. To sustain the sector, it is crucial to establish an internationally competitive electricity tariff." He also warned that without an electricity pricing policy that supports local mineral beneficiation, South Africa faces widespread deindustrialization and job losses. Theo Morkel, Managing Director of South Africa's Transalloys, further corroborated this view, sharing cost comparison data showing that even under the company's pricing agreement with Eskom, the electricity cost for producing SiMn is as high as $634/mt, far exceeding the international benchmark—where power costs for SiMn production range from as low as $147/mt to a maximum of $338/mt. Thus, Morkel said that while he supports immediately implementing the interim tariff relief for Samancor Chrome and the Glencore-Merafe Chrome JV, the rest of South Africa's ferroalloy industry equally urgently requires similar relief measures, as these sectors also face plant closures and job losses. Tengo Tengela, Trade and Industry Coordinator of the South African Federation of Trade Unions, also expressed support for the electricity tariff relief application, warning that if smelters are forced to shut down, around 300,000 direct and indirect jobs would be at risk. However, he called on the National Energy Regulator of South Africa to approve the application on the condition that the relevant enterprises suspend further retrenchment actions. The South African National Energy Regulator has not yet announced a decision timetable for this application, but Eskom has stated that the relevant approval must be issued by the end of February at the latest.

As the world places increasing emphasis on the sustainable use of resources and environmental protection, the status of the secondary metal market within the global metal industry has become increasingly prominent.

1. Procurement Conditions The purchaser of this procurement project, High-Carbon Ferromanganese Procurement Project (AGLYCGHHD250514210229), is the Procurement Management Department of the Procurement and Sales Center of Lingyuan Iron and Steel Co., Ltd. The funds for this procurement project are self-raised. The project has met the procurement conditions and is now open for a single-round negotiation. 2. Project Overview and Procurement Scope 2.1 Project Name: High-Carbon Ferromanganese Procurement Project 2.2 Alternative Procurement Method in Case of Failed Procurement: Not applicable 2.3 For details on the procurement content, scope, and scale of this project, please refer to the attachment "Material List Attachment.pdf". 3. Bidder Qualification Requirements 3.1 Consortium bidding is not allowed for this procurement. 3.2 For this procurement, the bidder must meet the following qualification requirements: (1) Production-oriented business license (2) Circulation-oriented business license 3.3 For this procurement, the bidder must meet the following registered capital requirements: Registered capital for production-oriented enterprises: 5 million yuan or above Registered capital for circulation-oriented enterprises: 5 million yuan or above 3.4 For this procurement, the bidder must meet the following performance requirements: 1. Provide scanned copies or photos of the original valid business license (or duplicate) that has passed the annual inspection. 2. Provide one performance contract for ferroalloy signed after January 1, 2022. 3.5 For this procurement, the bidder must meet the following capability, financial, and other requirements: Financial requirements: Refer to the attachment for details (if necessary) Capability requirements: Refer to the attachment for details (if necessary) Other requirements: Refer to the attachment for details (if necessary) 3.6 For projects that must be tendered according to the law, bids from dishonest persons subject to enforcement are invalid for this procurement. 4. Obtaining the Procurement Documents 4.1 Interested bidders are requested to log in to the Ansteel Smart Tendering and Bidding Platform at http://bid.ansteel.cn to download the electronic procurement documents from 17:00 on May 14, 2025, to 13:00 on May 20, 2025 (Beijing time, the same hereinafter). Click to view tender details: 》Procurement Announcement for High-Carbon Ferromanganese Procurement Project

1. Procurement Conditions The purchaser of this procurement project, the High-Carbon Ferrochrome Procurement Project (AGLYCGHHD250514210357), is the Procurement Management Department of the Procurement and Sales Center of Lingyuan Iron and Steel Co., Ltd. The funds for this procurement project are self-raised. The project now meets the procurement conditions and is open for a single-round negotiation. 2. Project Overview and Procurement Scope 2.1 Project Name: High-Carbon Ferrochrome Procurement Project 2.2 Alternative Procurement Method in Case of Failed Procurement: Not applicable 2.3 For details on the procurement content, scope, and scale of this project, please refer to the attached "Material List Attachment.pdf". 3. Bidder Qualification Requirements 3.1 Consortium bidding is not allowed for this procurement. 3.2 For this procurement, the bidder must meet the following qualification requirements: (1) Circulation-type business license (2) Production-type business license 3.3 For this procurement, the bidder must meet the following registered capital requirements: Registered capital for production-type enterprises: 5 million yuan or above Registered capital for circulation-type enterprises: 5 million yuan or above 3.4 For this procurement, the bidder must meet the following performance requirements: 1. Provide scanned copies or photos of the original business license (or duplicate) that has passed the annual inspection. 2. Provide one performance contract for ferroalloys dated after January 1, 2022. 3.5 For this procurement, the bidder must meet the following capability, financial, and other requirements: Financial requirements: Refer to the attachment for details (if necessary) Capability requirements: Refer to the attachment for details (if necessary) Other requirements: Refer to the attachment for details (if necessary) 3.6 For this procurement, if the project is subject to mandatory tendering according to the law, bids from dishonest persons subject to enforcement are invalid. 4. Acquisition of Procurement Documents 4.1 Those interested in participating in the bidding should log in to the Ansteel Smart Tendering and Bidding Platform at http://bid.ansteel.cn between 18:00 on May 14, 2025, and 13:00 on May 20, 2025 (Beijing time, the same hereinafter) to download the electronic procurement documents. Click to view tender details: 》Procurement Announcement for the High-Carbon Ferrochrome Procurement Project

Against the backdrop of an evolving global economic landscape and ongoing industrial development, the lead-zinc industry, as a vital foundational sector, is facing unprecedented opportunities and challenges. On one hand, the rise of the new energy industry has brought about new market demands for the lead-zinc sector, such as the continuous application of lead-acid batteries in the ESS sector and the innovative use of zinc in new materials. On the other hand, environmental protection pressure is increasing, prompting the industry to accelerate its transformation and upgrading, exploring more green and sustainable production methods. Meanwhile, with the end of the pandemic, the resumption of overseas smelters and the impact of various countries' policies on mineral resource protection, tariff adjustments, and trade barriers are affecting the import and export landscape of lead and zinc, forcing companies to reassess their market strategies and expand diversified supply and sales channels. At this critical juncture, the 2025SMM (20th) International Lead-Zinc Conference and Industry Expo comes into being. This summit will bring together leading enterprises, experts, scholars, government officials, and professionals from the domestic and overseas lead-zinc industries to discuss hot topics in industry development, share the latest technological achievements and management experiences, and build a high-end, professional, and practical exchange platform for promoting the sustainable development of the lead-zinc industry. At this conference, CCIC Guangxi Co., Ltd. will attend in full force, joining peers from the upstream and downstream of the lead-zinc industry to engage in in-depth discussions on the pain points and difficulties in industry development, jointly explore business opportunities for win-win cooperation, and discuss ways to promote high-quality industry development. Click registration form to register now, grasp the trends in the lead-zinc industry, and lead the future of the industry. See you in Nanjing. China Certification & Inspection (Group) Co., Ltd. (CCIC), approved by the State Council and managed by the State-owned Assets Supervision and Administration Commission of the State Council, is a central state-owned enterprise. It is an independent third-party comprehensive quality service provider focusing on "inspection, testing, certification, standards, and metrology," established in 1980. CCIC is an A-class member of the TIC Council Board, the National Certification Body (NCB) for the IECEE-CB system in China, and a member institution of IQNet in China. Its business scope covers the three major sectors of agriculture, industry, and services, involving all aspects of the national economy and people's livelihood, providing "one-stop" solutions and comprehensive quality services to over 400,000 domestic and overseas clients. CCIC Minerals provides inspection, testing, technical, and consulting services for mineral and metal commodities to global clients, covering all areas from exploration, trade, customs clearance, production processing, to industrial applications of mineral products. Throughout the entire business chain, we adhere to laws, regulations, and industry standards, maintaining strict quality standards and providing professional and efficient services through effective communication. We specialize in the inspection of black ores, ferroalloys, non-ferrous metals, steel products, and industrial minerals, offering round-the-clock inspection coordination and reporting services. Contact Information CCIC Guangxi Co., Ltd. (Southwest Regional Headquarters) Contact: Cai Geng 18707803278 CCIC Guangdong Co., Ltd. (South China Regional Headquarters) Contact: Xu Zeqi 13430248078 Scan the QR code to register now 2025SMM (20th) Lead-Zinc Conference and Industry Expo

[Strong Momentum! Fengzhen City's Industrial Enterprises Strive for a Strong Start in the First Quarter] The machines roar continuously, workers shuttle through workshops, and products flow steadily... Recently, the production workshops of major industrial enterprises in Fengzhen City have been bustling with activity. The production and order volumes of many industrial enterprises have been steadily increasing, with some enterprises even operating new production lines, striving for a strong start in the first quarter...

[Public Notice on the Acceptance of the Environmental Impact Assessment Document for the Construction Project of the High-Carbon Ferrochrome Powder Remelting and Casting Production Line by Inner Mongolia Wangyuan Industrial Co., Ltd.] According to the relevant provisions of the approval procedures for environmental impact assessments of construction projects, on January 3, 2025, our bureau accepted the environmental impact assessment document for the construction project of the high-carbon ferrochrome powder remelting and casting production line by Inner Mongolia Wangyuan Industrial Co., Ltd. The acceptance status is hereby made public, and the public notice period for the report is 10 working days starting from January 3, 2025...

At the 2023 SMM 12th Metal Industry Annual Conference-SMM Metal Mining Forum co-sponsored by SMM, Chongqing Jiangjin District People's Government, and Shanghai Futures Exchange, Yu Hongnan, deputy general manager of PSEI Group, introduced the development of the four major international mining companies, China’s overseas joint venture iron ore projects and the advantages of Australian bauxite.