India’s SAIL declares record revenues on higher output, demand for steel

An uptick in demand and higher production helped the Steel Authority of India (SAIL) achieve record revenues and production in the year ending March 2022, the governments statement said. During FY’22, the company has clocked its best-ever performance in production and sales while achieving an all-time high revenue from operation of Rs.1,03,473 Crore and EBITDA […]

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Metals and mining firms face diverse impact from energy transition – Fitch

Metals and mining companies will face varying impacts from the transition to a low-carbon economy, including diverging demand trends and the need to transform production processes and switch to greener energy sources and cleaner feedstock, Fitch Ratings says in a sector-specific Climate Vulnerability Scores (Climate.VS) report. Climate.VS vary depending on companies’ demand and supply outlooks, […]

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India’s steel exports likely to remain strong on regional demand: Moody’s

India’s steel exports are expected to remain strong in the coming months as higher prices and regional demand would drive the steel companies to divert part of their output to exports, according to Moody’s Investors Service. In its report ‘Steel Asia Pacific: Higher raw material costs reduce benefit of steel price gains amid Ukraine conflict’, Moody’s Investors […]

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ArcelorMittal cuts 2022 global steel consumption outlook because of Ukrainian war

ArcelorMittal expects 2022 global steel consumption to contract 0%-1% as Russia’s military invasion of Ukraine disrupts supply chains, stoking inflation, while China’s COVID-19 lockdowns dampen economic activity, the world’s second biggest steelmaker said. The company had previously estimated 2022 global steel consumption to rise 0%-1%. Long-term steel market fundamentals remain positive, ArcelorMittal said, after posting […]

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Slowdown in global automotive sector due to shortage of chips drags on steel prices

The global semiconductor shortage continues to curtail production at automakers around the world. New and ongoing Covid-related lockdowns in China are inhibiting already strained supply chains. This threatens to have an adverse impact on steel prices, if things are not restored soon. The military conflict in Ukraine has reduced the supply of component parts to […]

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