India's steel imports were reported at 5.51 MnT April-September '24-25. The steel ministry in India has proposed a 25 per cent safeguard duty on the import of certain steel items into the country to address concerns raised by the domestic steel industry. The proposal was discussed when the Union Minister of Steel H D Kumaraswamy [...]
China's surging steel exports have sparked complaints from a growing number of countries, with some, such as Turkey and Indonesia Signs of thawing ties a day after the leaders of India and China met are unlikely to deter New Delhi's plans to back tariffs on steel as they are not country-specific measures, a senior government [...]
UNION Minister of State for Steel and Heavy Industries, Bhupathiraju Srinivasa, said that India is currently the second-largest producer of steel, with a production of 144 million metric tonnes. While addressing a three-day international conference on green steel production in New Delhi, the Minister lauded the technological innovation and material efficiency in the steel sector, [...]
Lack of investment in Infra has been the major constraint resulting in a sluggish growth in steel consumption in the last few years. India is ending FY21 with a total steel consumption of around 95-97 million tonnes of steel which is nearly 5 percent lower than the previous year. In FY22 the budget has announced [...]
Steel prices are expected to remain high in 2021, fuelled by higher demand, which will affect core inflation and also keep WPI inflation at elevated levels. Strong domestic demand, along with healthy exports, aided the steel industry's production and sales growth in the fourth quarter of 2020-21 on a sequential basis, said analysts. Revenues of [...]
The construction sector, which includes both infrastructure and real estate, contributes about 62 per cent of the total steel demand. New Delhi: After a brief lull in 2020 pushed by the pandemic and the lockdown that affected all industries, the Indian steel industry is expected to bounce back to a robust growth phase in 2021. [...]
A report by CARE Ratings said the margins of steel companies were expected to grow further in the last quarter of the fiscal India's steel and cement companies are witnessing a revival after getting eviscerated by the pandemic, a sign the infrastructure sector is returning to normality. A report by CARE Ratings said the margins [...]
Resumption of mining operations at the NMDC Donimalai mine will improve iron ore supply in the country and help ease prices of the key steel making raw material, experts say. Resumption of mining operations at the Donimalai mine will improve iron ore supply in the country and help ease prices of the key steel making [...]
Domestic demand for steel may stay robust in the near term Low customs duty, cheaper ore to reduce steel prices: Steel prices are expected to fall by as much as 10% from their January highs over the next few months, industry analysts said, retreating from a runaway rise that led end-consumers to seek government intervention. [...]
As per the report, India's steel consumption grew 9 per cent year-on-year and 3 per cent month-on-month to 9.97 mt in January 2021. New Delhi: Strong domestic demand along with low finished inventory are expected to support domestic steel prices, Motilal Oswal Financial Services said in a report. As per the report, India's steel consumption grew [...]
