After two successive years of rush in earnings, steel companies are now staring at a notable decline over the next one year as the industry faces multiple headwinds emerging from trade barriers export duty on finished steel, unfamiliar coal/energy cost pressures and muted domestic demand growth so far. The operating environment will become far less…
Steel prices have decreased to ₹64,000-65,000 a tonne from ₹71,000 last month on expectation of a supply surplus on levy of 15% export duty. Prices were flying at ₹76,000 a tonne in April. Interestingly, the excess supply comes amid forecast of weak demand with onset of south-west monsoon slowing down infrastructure activities from this month….
According to the World Steel Association data, international steel production in April was decreased by 5.1% year-on-year to 162.7 million tonnes (mt). World production has been on the down swing since July last year as China, which makes up over 50% of the output among the 64 countries whose data are taken into credit, has…
As per the new order, an export duty of 15% will be imposed on hot-rolled and cold-rolled alloy and non-alloy flat steel products (of 600 mm or more width). Also, a 15% duty will be imposed on exports of hot-rolled bars and rods, other bars and rods of iron or non-alloy steel, flat-rolled products of…
The National Commodities and Derivatives Exchange (NCDEX), the country’s biggest agriculture commodity exchange, is contracting a major comeback with plans to launch futures trading in Coffee and PVC (polyvinyl chloride). This is part of its plan to launch new contracts in commodities that are not price sensitive. The exchange is also planning to initiate Liquidity…
Chinese steel and iron ore prices fell on Wednesday after Shanghai futures pledged “extraordinary deals”, citing the government’s earlier efforts to stimulate commodity inflation through warnings. Shanghai Construction Steel Rehabilitation SRBCV1 Day Trading ended 6% lower at 4,667 Yuan (29 729.79), hitting its lowest level since March 24, hitting 4,661 Yuan previously. The hot-rolled coil…
