India’s domestic steel prices are still unstable due to weak purchasing, delayed international demand, a decline in export offers, and lower-than-expected demand in traders’ markets. This week, the benchmark hot-rolled coil (HRC) price was about 59,200 per tonne, a 2–3% decrease from the same time last month (mid-March). After mid-March, there had been some cooling…
Steel producers, led by JSW Steel and Tata Steel, have reported record production in the March quarter despite erratic domestic demand and unrest around the world. According to Tata Steel, the slowdown in its global operations was a major factor in the minor increase in its consolidated production, which increased to 7.59 million tonnes (7.55…
State-owned SAIL manufactured a record 18.28 million tonnes (MT) of crude steel during the fiscal year 2022–23, representing a growth of 5.3% from the previous year. During the fiscal year that concluded on March 31, hot metal output increased by 3.6% to 19.40 MT. The Steel Authority of India (SAIL) announced in a statement that…
Due to anticipated price growth for the metal, which had been stagnant for the first nine months of the year, steel manufacturers’ margins would improve in the fourth quarter. An added benefit would be the openness of China. In Q4, an increase of 7-8% in steel demand is predicted. “Steel prices increased from $600 per…
The government’s proposal to increase capital spending by 33% to 10 lakh crore in the upcoming fiscal year will increase demand for steel and cement and benefit capex-intensive industries. 3.3% of GDP would be spent on capital projects by the government, approximately tripling what was spent in 2019–20. Along with the central government investment, the…
Exports from Indian steel mills climbed by 31% in December over November, reflecting improved sentiment following the Center’s removal of export taxes on November 19. Key exports of non-alloyed steel experienced their largest sequential gain this fiscal year in December (271%) (over the prior month), while exports of alloyed steel fell by half. The steel…
On the strength of improving global cues and firming up of international pricing, Indian steel mills are considering price increases in January. Domestic orders, though, are still on the low side. First indications point to price increases of $500 per tonne for flat-coated products, which have been hardest hurt by growing imports and price variations….
For the second month in a row this fiscal year, India was a net importer of steel in November, with imports totaling 600,000 tones. This trend is symptomatic of a global slowdown in the metal cycle and ongoing pressure on the price of domestic products. According to a report from the Steel Ministry that was…
The government’s announcement to remove the export duty late on Friday was applauded by the steel sector. The tax, which had been introduced in May, was eliminated as of Saturday. According to a notification from the Finance Ministry, iron ore lumps and fines with “less than 58 percent Fe” will not be subject to export…
In October, for the second time this fiscal year, India became a net importer of steel due to lower-cost options in the downstream industry, such as cold-rolled and coated goods, while exports significantly decreased in volume. According to information accessible with the Steel Ministry, steel imports totaled 5,93,000 tonnes in October, compared to exports of…
