After 3 years, Steel demand to grow in single digits in 2024-25
9 months, 2 weeks ago

After 3 years, Steel demand to grow in single digits in 2024-25

The Hindu  

With imports from China and Vietnam rising since last October, India is likely to be a net finished steel importer in 2023-24 after a gap of five years, and is likely to remain so in the coming year as well unless the external demand environment improves meaningfully, rating agency ICRA has said. Moreover, domestic steel consumption growth is expected to slide to 7%-8% after three years of double-digit growth, down from about 12%-13% this year, while higher input costs and soft steel prices will squeeze operating profit for margins for producers by 110-115 basis points in 2024-25, it said in a research note. “While these are early trends, these numbers nonetheless hint at demand remaining soft over the next two quarters as the government spending moderates around the election period,” remarked Jayanta Roy, senior vice president and group head of corporate sector ratings at ICRA. “With most other large steel-consuming hubs globally also facing subpar economic activities in the near term, global steel trade flows have been increasingly redirected to high-growth markets like India,” the note said.

Steel  single  china  demand  likely  growth  soft  grow  steel  external  digits  remain  india  202425  vietnam

History of this topic

Bruised by rising imports, steelmakers pin New Year hopes on safeguard duty
7 hours, 21 minutes ago

Bruised by rising imports, steelmakers pin New Year hopes on safeguard duty

Live Mint  

Mumbai: The commerce ministry's investigation into imports of flat steel products and a likely safeguard duty to curb their shipments have sparked optimism of a turnaround for Indian steelmakers after a tepid year marred by slipping sales price and shrinking margins. A safeguard duty, which is a temporary measure to protect the domestic industry from cheap imports, could finally arrest …

Steel industry capacity utilization at 78 pc, govt plans safeguard duty
1 week, 5 days ago

Steel industry capacity utilization at 78 pc, govt plans safeguard duty

Deccan Chronicle  

: The capacity utilisation of the domestic steel industry is set to drop to 78 per cent for the first time in four years. In order to check unprecedented imports, the government is considering imposing a 25 per cent duty on steel imports.Cheaper imports from China and countries under Free Trade Agreement along with ongoing capacity addition can lead to …

India’s steel industry to grow at 8%; capacity to rise by 20 million tons by FY2027: report
1 month ago

India’s steel industry to grow at 8%; capacity to rise by 20 million tons by FY2027: report

Live Mint  

New Delhi, November 20 : The annual capacity of India's steel industry will increase by 20 million tons between the financial year 2025-27, says Acuite Ratings & Research in its recent report. The report gives a positive outlook for the Indian steel industry in the medium to long term.Driven by strong growth in the automotive, real estate, and infrastructure sectors, …

Dynamic supply-demand factors to lift steel sector profits
1 month, 3 weeks ago

Dynamic supply-demand factors to lift steel sector profits

China Daily  

Mounds of iron ore at Rizhao Port, Shandong province. As China's steel industry is facing declining demand and tightening margins, a balanced approach to production and a focus on emerging consumption sectors are likely to stabilize the market and ensure sustainable growth, a top industry association said. "China's steel industry has entered a phase of 'stock optimization', with a persistent …

Economic Survey 2023-24: Green steel to play key role in low carbon economy globally
5 months ago

Economic Survey 2023-24: Green steel to play key role in low carbon economy globally

The Hindu  

Green steel will play an important role in reshaping the future of the industry as the world moves towards a low-carbon economy, the Economic Survey for 2023-24 said. "As the world moves towards a low-carbon economy, green steel is poised to play a pivotal role in reshaping the future of the steel industry," said the Survey tabled in Parliament on …

India lucrative for steelmakers because of higher infra spending, economic growth
6 months ago

India lucrative for steelmakers because of higher infra spending, economic growth

Hindustan Times  

Despite a slowdown in exports and increasing Chinese steel output impacting India's share in the markets, steel makers in the country are optimistic about the domestic demand. The case with steel exports Indian exports have been affected by a variety of reasons in the recent past including low production due to scheduled maintenance shutdowns, preference for the domestic market over …

Cheaper Chinese steel pulls down Indian exports
7 months ago

Cheaper Chinese steel pulls down Indian exports

Deccan Chronicle  

Chennai: Apart from the Red Sea crisis, increasing shipments of cheaper Chinese steel hit exports from India in April. After experiencing steady growth in the last four months, India’s engineering exports declined in April by 3.2 per cent primarily due to lower shipments of metals, especially iron and steel, and copper. A substantial 36.41 per cent decline in exports of …

Indian steel exports at high risk from Europe's new carbon tax: Goldman Sachs
10 months, 1 week ago

Indian steel exports at high risk from Europe's new carbon tax: Goldman Sachs

Hindustan Times  

Steel producers in India are most at risk from Europe’s new carbon tax on imports due to their high sales to the region and mills’ elevated emissions intensity, according to Goldman Sachs Group Inc. Steel is traditionally among the most polluting industries. Europe’s Carbon Border Adjustment Mechanism aims to subject imported goods such as steel to a levy to ensure …

JSW Steel crude steel production rises 12 per cent YoY in Q3
11 months, 2 weeks ago

JSW Steel crude steel production rises 12 per cent YoY in Q3

India TV News  

JSW Steel recorded a 12 per cent year-on-year surge in its crude steel production for the third quarter of FY24. JSW Steel observed a 9 per cent year-on-year increase in crude steel production at its Indian operations, reaching 6.63 million tonnes. Meanwhile, its USA-Ohio operations exhibited significant growth, recording a 191 per cent surge in crude steel production year-on-year, totaling …

India's April-Nov steel imports from China at five-year high
11 months, 3 weeks ago

India's April-Nov steel imports from China at five-year high

Firstpost  

China was the top exporter of finished steel to India between April and November, shipping 1.3 million metric tons of the alloy, up 48.2% from the same period a year earlier. China emerged as the leading exporter of finished steel to India from April to November, sending 1.3 million metric tons of the alloy, marking a 48.2% increase compared to …

How India, not China, is leading the revival in global steel
11 months, 4 weeks ago

How India, not China, is leading the revival in global steel

Live Mint  

After a slump in 2022, the global steel industry is set to close 2023 with marginal growth. After making a smart recovery from the pandemic in 2021 when production grew 3.6% at 1,912 million tonnes, the global steel industry slumped by 4.3% at 1,831.5 mt last year. The reasons for the decline last year were a fragile world economy grappling …

India's steel import to be elevated at 6MT in FY24 on strong demand: Crisil
1 year ago

India's steel import to be elevated at 6MT in FY24 on strong demand: Crisil

The Hindu  

India imported 4.26 MT finished steel in April- November 2023 and the import may touch 6 MT mark in the current fiscal mainly on account of strong domestic demand, according to a report by Crisil. "Strong domestic demand, supported by government spending on infrastructure, building and construction segments, is expected to keep India's steel imports elevated around the 6 MT …

Centre monitoring steel import situation as China shipments touch 5-yr high
1 year, 3 months ago

Centre monitoring steel import situation as China shipments touch 5-yr high

Business Standard  

India is monitoring steel imports after shipments from China touched a five-year high in the first four months of the fiscal year that began in April, the country's steel secretary told Reuters on Monday. During April-July, China was the second-biggest steel exporter to India, after South Korea, selling 0.6 million metric tons, up 62% from the same period a year …

Govt initiates review of CVD imposition on stainless steel
1 year, 5 months ago

Govt initiates review of CVD imposition on stainless steel

Live Mint  

NEW DELHI : The Prime Minister’s Office has initiated discussions on the potential imposition of countervailing duty on stainless steel, raising hopes within the industry that such an action will curb cheap imports from China and support small and medium producers in India, two people familiar with the development said. Industry data showed that small and medium enterprises manufacturing 200 …

China, Vietnam's share in India's steel import basket rose during June 2023, shows data
1 year, 5 months ago

China, Vietnam's share in India's steel import basket rose during June 2023, shows data

India TV News  

The share of countries like China and Vietnam in India's 4.84 LMT steel import basket during June 2023 has increased on a year-on-year basis, according to official data. At 4.84 lakh metric tonne, India's overall steel import registered a 5.9 per cent increase on a month-on-month basis and 7.6 per cent over June 2022, the Ministry of Steel said. However, …

India to contest EU carbon levy, says steel secretary
1 year, 6 months ago

India to contest EU carbon levy, says steel secretary

Live Mint  

India plans to challenge certain provisions of the European Union’s Carbon Border Adjustment Mechanism as the government is concerned about its impact on steel exports from India, steel secretary Nagendra Nath Sinha said. With the rapid growth of steel imports from Japan, Korea, China and Russia, will the government look at restoring import duty on steel products to levels that …

Domestic steel prices under stress as China demand dips
1 year, 6 months ago

Domestic steel prices under stress as China demand dips

Live Mint  

Since the start of FY24, steel prices have witnessed a continuous downward spiral, primarily driven by the demand weakness in China. According to ICICI Securities, the price of domestic hot rolled coil in the traders’ market fell by ₹500 per tonne week-on-week, hitting a new low of ₹58,200 per tonne on 21 May. An analysis by rating agency ICRA suggested …

Icra lowers steel price forecasts for FY24 as Chinese exports weigh on market
1 year, 6 months ago

Icra lowers steel price forecasts for FY24 as Chinese exports weigh on market

Live Mint  

New Delhi: Steel prices have been on a decline since the beginning of FY2024, with domestic hot rolled coil prices plummeting 3.8% in the current quarter due to falling Chinese exports, rating agency Icra said in a report on Thursday. Icra has revised its baseline steel price predictions for FY2024, forecasting an average year-on-year decrease of 4-5% in domestic HRC …

Britain’s deepening dependence on foreign steel fuels national security fears
1 year, 9 months ago

Britain’s deepening dependence on foreign steel fuels national security fears

The Telegraph  

Britain's increasing reliance on foreign steel has become a national security risk as the world fractures into competing blocs, defence experts have warned. A lack of domestic access to steel poses a threat to the defence industry and could make it harder to produce weapons for the armed forces, according to new research by the Royal United Services Institute. It …

Turning tide: On India’s goods exports
1 year, 11 months ago

Turning tide: On India’s goods exports

The Hindu  

India’s goods exports rebounded from a nearly 17% dip in October to a mild 0.6% uptick in November. Their share in exports growth has been shrinking since June, with the contraction accelerating for many sectors from September to November — engineering goods that drove much of India’s record $422 billion goods exports in 2021-22, contracted 11.3% while textiles fell a …

Will steel stocks harden in 2023?
1 year, 11 months ago

Will steel stocks harden in 2023?

Live Mint  

The year 2022 was a mixed bag for steel prices. Besides, the imposition of export duty on steel in late May by the government weighed on prices. “While the recent price hikes in global markets appear encouraging, we feel it is too early to call it a cyclical upturn,” said analysts at ICICI Securities Ltd. A dramatic rise in covid …

China's iron ore traders seek low-cost Indian supplies as steel margins slump
2 years ago

China's iron ore traders seek low-cost Indian supplies as steel margins slump

The Hindu  

China is set to snap up significant volumes of low-grade Indian iron ore in coming weeks, as Chinese steelmakers seek out cheaper raw materials to cope with meagre profits, said traders and analysts. "We are looking to resume buying from India after six months of suspension," said a Shanghai-based iron ore trader who booked some cargoes of Indian pellets for …

Removal of Export Duty Will Lead to New Era of Growth for Steel Industry: Scindia
2 years, 1 month ago

Removal of Export Duty Will Lead to New Era of Growth for Steel Industry: Scindia

News 18  

Removal of export duty on steel products will lead to a new era of growth for the domestic steel industry which has gained footprint internationally, Union minister Jyotiraditya Scindia said on Monday. It has taken years for the domestic steel industry to gain footprint in the international markets, the steel minister said at the 3rd Indian Steel Association conference in …

Steel prices fall 40% in 6 months to ₹57,000/ton: SteelMint
2 years, 2 months ago

Steel prices fall 40% in 6 months to ₹57,000/ton: SteelMint

The Hindu  

Steel prices fell about 40% to ₹57,000 a tonne in the domestic market over the last six months on subdued export orders in the wake of the 15% export levy, according to SteelMint. It had become a matter of concern for the user industries as movements in steel prices have a direct impact on industries like real estate and housing, …

India's crude steel output rise by 2.5% at 30 MT in Jul-Sep: Report
2 years, 2 months ago

India's crude steel output rise by 2.5% at 30 MT in Jul-Sep: Report

Business Standard  

India's crude steel output rose by 2.56 per cent to 30.06 million tonne during the July-September period of the ongoing financial year. As per research firm SteelMint, the top six steel makers -- SAIL, Tata Steel, JSW Steel, JSPL, AMNS India and RINL -- produced 18.29 MT steel, the rest 11.77 MT came in from the secondary sector. During the …

Exports growth slows further in August
2 years, 3 months ago

Exports growth slows further in August

The Hindu  

India’s merchandise exports grew 1.6% in August to $33.92 billion, still a nine-month low, while imports jumped 37.3% from August 2021 levels to $61.9 billion. Gold imports dropped 46.7% to $3.5 billion in August from $6.7 billion a year ago, but Silver imports saw an alarming 4,318% jump from a mere $15.5 million last year to $684.3 million this August. …

How to decarbonize the steel industry
2 years, 3 months ago

How to decarbonize the steel industry

Live Mint  

I am proud of steel’s contribution to the expansion of India’s economy. India is the world’s second largest producer of steel, with its annual output of 106 million tonnes now exceeding the pre-pandemic high of 100 million tonnes. The National Steel Policy says capacity of 300 million tonnes per annum will be required by 2030 to satisfy the demands of …

India to become world's number one producer of steel: Jyotiraditya Scindia
2 years, 4 months ago

India to become world's number one producer of steel: Jyotiraditya Scindia

Firstpost  

India is the world’s second largest producer of crude steel after China New Delhi: Union Minister Jyotiraditya M Scindia on Tuesday exuded confidence that India will become the number one producer of steel in the world in the days to come. India is the world’s second largest producer of crude steel after China. He said India’s per capita consumption of …

Steel Stocks: Tata Steel Down 14%, JSW Hits Lower Circuit; What Are They Falling Today?
2 years, 7 months ago

Steel Stocks: Tata Steel Down 14%, JSW Hits Lower Circuit; What Are They Falling Today?

News 18  

Though the market started on a strong footing despite mixed cues from Asian markets, metal stocks were under tremendous pressure on Monday. Shares of steel companies fell up to 14 per cent on the BSE in Monday’s trade, after the government levied export duty on 11 iron and steel intermediates and key steel products. Top Metal Names Bleed Top metal …

Indian steelmakers face hit on Europe deals over export tax: JSPL
2 years, 7 months ago

Indian steelmakers face hit on Europe deals over export tax: JSPL

Live Mint  

Indian steel firms could be forced to cancel European orders and suffer losses after an overnight decision to impose export taxes on steel products, V R Sharma, managing director at Jindal Steel and Power told Reuters. India imposed an export tax of 15% on eight steel products late on Saturday, at a time steelmakers are looking to make up for …

Steel sector to see limited impact from external woes
2 years, 8 months ago

Steel sector to see limited impact from external woes

China Daily  

Employees check steel tubes at a production facility in Maanshan, Anhui province, in March. Amid price hikes, nation's stabilizing moves to keep production on track Adding more strain to global steel supplies and price inflation of raw materials, the Russia-Ukraine conflict has increased China's steel production costs, yet experts said as domestic steel market expectations level off amid Chinese authorities' …

2021年我国钢铁生产如期减量 钢铁企业绿色低碳转型步伐加快
2 years, 11 months ago

2021年我国钢铁生产如期减量 钢铁企业绿色低碳转型步伐加快

China Daily  

压减粗钢产量是落实我国碳达峰碳中和目标任务（to achieve carbon peaking and carbon neutrality goals）的重要举措。2021年，粗钢压减工作成效如何？ 资料图片 新华社发 The country produced an estimate of 1.03 billion tonnes of steel last year, down 35 million tonnes from 2020, said the China Iron and Steel Association on Monday. The steel and iron industry's combined profits surged 86.46 percent, year on year, to 351.7 billion yuan during the January-November period last …

India's steel consumption set to break records as Covid-hit economy revives
3 years, 4 months ago

India's steel consumption set to break records as Covid-hit economy revives

Hindustan Times  

India’s steel consumption is set to break records this year, reversing the performance in 2020 when demand crashed as the pandemic upended economic activity. Demand for steel is expected to surge 17% to 110 million tons in the year started April. Demand for steel is expected to surge 17% to 110 million tons in the year started April, according to …

This appears to be the third supercycle for commodities: Seshagiri Rao
3 years, 7 months ago

This appears to be the third supercycle for commodities: Seshagiri Rao

Live Mint  

JSW Steel, which reported an 18% growth in quarterly profit, expects demand for commodities to stay strong for a sustained period as the global economy recovers from the pandemic. Seshagiri Rao, joint managing director and group chief financial officer of JSW Steel, said this could well be the third supercycle for the commodities sector, led by demand from China and …

Steep steel prices hurt several sectors as China gorges on ore
3 years, 11 months ago

Steep steel prices hurt several sectors as China gorges on ore

The Hindu  

With several automakers recently announcing price increases to offset input costs, steel prices have come under the spotlight. Market intelligence firm SteelMint said on Friday that Indian iron ore exports had doubled to 40.7 million tonnes in 2020, from the previous year’s 19.1 mt. The ISA wrote to the Prime Minister’s Office last month flagged a dip in domestic iron …

Core sector output shrinks 2.6% in November 2020
3 years, 11 months ago

Core sector output shrinks 2.6% in November 2020

The Hindu  

Output from India’s eight core sectors hit a three-month low in November, contracting 2.6% in the festive month, with coal, fertilisers and electricity the only sectors to record positive growth on a year-on-year basis, suggesting the economy is still not out of the woods. “Steel, after recording three consecutive months of positive growth, and cement, after recording a positive growth …

Defying Trade Tensions, Chinese Buyers Snap Up Indian Steel as Exports Double between April & July
4 years, 3 months ago

Defying Trade Tensions, Chinese Buyers Snap Up Indian Steel as Exports Double between April & July

News 18  

India’s steel exports more than doubled between April and July to hit their highest level in at least six years, boosted by a surge of Chinese buying in defiance of tensions between Beijing and New Delhi. Leading Indian steel companies Tata Steel Ltd and JSW Steel Ltd were among Indian companies that sold a total of 4.64 million tonnes of …

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