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 ore production as a key factor that had left its members with little option but to raise steel prices. The ISA also urged a temporary ban on iron ore exports and cited the iron ore shortage and frequent increases in domestic iron ore prices by state-run NMDC as particularly impacting smaller steel producers – which account for about 40% of India’s 140 mt steel capacity. FIMI also said that of the 33.4 mt of iron ore exported between April and October, 22 mt were of a grade that the local steel industry did not require as input material.

India China Odisha Indian Prices Production Steel Demand Covid 2020 Iron Months Isa Ore Previous Iron Ore Hazra Steel Prices Fimi Iron Ore Exports  prices  ore  hurt  production  demand  mt  2020  steel  gorges  months  previous  iron  sectors  steep  china

History of this topic

Bruised by rising imports, steelmakers pin New Year hopes on safeguard duty
5 hours, 51 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, …

Steel companies may see hiked demand, better margins in Q3FY25: Centrum report
1 month ago

Steel companies may see hiked demand, better margins in Q3FY25: Centrum report

Live Mint  

New Delhi, November 19 : Steel companies may see improved demand and better margins in quarter three of the current fiscal year, according to a report by Centrum. The report adds that net debt for steel companies has increased overall by an average of 6-20 per cent QoQ in Q2FY25 due to ongoing capex expansion. For non-ferrous, aluminium and zinc, …

August NMDC iron ore output, sales slide
3 months, 3 weeks ago

August NMDC iron ore output, sales slide

The Hindu  

Mining major NMDC reported iron ore production for August declined almost 10% year on year and sales by more than 11%. Production of the key raw material for steel stood at 3.07 million tonne compared to 3.41 MT in the year earlier period, while sales totalled 3.14 MT, the State-owned company said in a filing on the provisional numbers for …

China’s steel industry in trouble as property market woes hit demand
4 months, 1 week ago

China’s steel industry in trouble as property market woes hit demand

Live Mint  

China's steel industry is facing trouble as its falling property market has affected demand, Bloomberg reported on Wednesday, August 16. China's steel demand concerns: According to Kallanish, cited in the report, China's property market slowdown caused steel demand from construction activities to fall 10 per cent this year. “Steel demand is really poor,” said Wei Ying, an analyst at China …

Iron Ore Steadies With Japan’s Dovish Signals, Supplies in Focus
4 months, 2 weeks ago

Iron Ore Steadies With Japan’s Dovish Signals, Supplies in Focus

Live Mint  

Iron ore steadied after paring earlier losses as investors weighed dovish signals from Japan regarding potential monetary tightening, while signs of increased supplies of the raw material continued to cloud the market outlook. “Global iron ore shipments have increased slightly, with supply from Australia, Brazil and other non-mainstream sources staying high,” Huatai Futures Co. said in a note. According to …

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 …

Australia's iron ore miners face falling Chinese demand
9 months ago

Australia's iron ore miners face falling Chinese demand

The Hindu  

Australia’s vast iron ore mining sector is facing stark choices as its biggest customer China has likely hit a peak in its steel production and global pressures mount to decarbonise one the world’s most polluting industries. China’s rise since the late 90s allowed Australia’s iron ore miners to massively ramp up output, reap economies of scale and become hugely profitable. …

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 …

Can FY25 break NMDC’s momentum?
10 months ago

Can FY25 break NMDC’s momentum?

Live Mint  

Investors in NMDC Ltd have had a fruitful year, with the stock climbing over 70% in 2023 and a nearly 17% increase so far in 2024. The state-owned iron ore miner's performance has been buoyed by two price hikes in January, consistent progress towards its FY24 volume goals, and a better-than-expected profitability in the December quarter, bringing cheer to its …

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 …

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 …

A new iron ore mine 'every year to the end of this decade', but who will be the buyers?
1 year, 1 month ago

A new iron ore mine 'every year to the end of this decade', but who will be the buyers?

ABC  

Australia's iron ore sector built its foundations on demand from Japan during the 1960's. "China is nearing a structural peak in terms of its demand, it will still remain a very large market for us, but other markets, Asia and India, as examples, will continue to grow quite rapidly and that will offset any slowdown in demand," said Rio Tinto …

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 …

Indian companies suffer as Chinese steel floods market
1 year, 6 months ago

Indian companies suffer as Chinese steel floods market

Live Mint  

NEW DELHI : Cheaper stainless steel imports from China have flooded the Indian market, leading to small and medium enterprises operating at just 30% of their capacity because of weak demand for local products. Small and medium enterprises producing 200 series stainless steel flat products were operating at less than a third of their 1.5 million tonne capacity as of …

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 …

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 …

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 …

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' …

Steel prices jump as Russia-Ukraine conflict hits supply chains
2 years, 9 months ago

Steel prices jump as Russia-Ukraine conflict hits supply chains

The Hindu  

Domestic steel makers have raised the prices of hot-rolled coil and TMT bars by up to ₹5,000 per tonne as supply chains are being impacted amid the ongoing war between Russia and Ukraine. After the price revision, a tonne of HRC would cost about ₹66,000, while buyers would get TMT bars for about ₹65,000 per tonne, the sources said on …

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 …

Steel prices have tripled. Now Bank of America is sounding the alarm
3 years, 7 months ago

Steel prices have tripled. Now Bank of America is sounding the alarm

CNN  

New York CNN Business — A bubble could be brewing in steel stocks. It’s just a matter of when and how it happens.” Phil Gibbs, director of metals equity research at KeyBanc Capital Markets After bottoming out around $460 last year, US benchmark hot-rolled coil steel prices are now sitting at around $1,500 a ton, a record high that is …

Steel companies post higher Q1 earnings
3 years, 7 months ago

Steel companies post higher Q1 earnings

China Daily  

Employees work on the production line of a steel plant in Ma'anshan, Anhui province. Steel enterprises in China posted a better performance during the first three months of the year, with total profit rising 247.44 percent on a yearly basis to 73.4 billion yuan, data from the China Iron and Steel Association showed on Tuesday. However, higher raw material prices, …

Hit by Rising Iron Ore Pellet Exports to China, Secondary Steel Makers Seek PM Modi's Intervention
4 years, 4 months ago

Hit by Rising Iron Ore Pellet Exports to China, Secondary Steel Makers Seek PM Modi's Intervention

News 18  

Secondary steel makers have sought Prime Minister Narendra Modi's intervention to resolve the issue of their raw material shortages due to surging exports of iron ore pellet to China, which, they term, is against the idea of Atmanirbhar Bharat or self-reliant India. The industry body has demanded imposition of at least 30 per cent export duty on iron ore pellets, …

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