India’s steel exports will drop 35-40% on-year to 10-12 million tonne this fiscal following the 15% export duty imposed on several finished steel products last month, a CRISIL Research analysis shows. Steel exports, which had reached a record high of ~18.3 million tonne last fiscal, continues to see momentum because of the disruption caused by […]
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 162.7 million tonnes (Mt) in April 2022, a 5.1% decrease compared to April 2021, the industry body said in a statement seen on Tuesday. Top 10 steel-producing countries China produced 92.8 Mt in April 2022, down 5.2% on April […]
India’s imposition of a sharp 15% export duty on various finished steel products is a significant negative for the steel sector, which is already going through a period of muted demand and high input cost inflation, ICRA Research said in a note seen on Tuesday. Steel exports are likely to be far less attractive going […]
Coal production by Coal India (CIL) has grown slower than the captive mines, awarded over the last six years. During 2020-22, production from the captive mines jumped by 38.5 per cent while CIL saw a tepid growth of 3.4 per cent, according to government data. In terms of dispatch to the power sector, captive mines […]
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 […]
India announced a series of measures, including a a cut in excise duty on petrol and diesel, and a reduction in import duty on raw materials for plastics and steel, to control price rise as inflation rose to an eight-year high due to an uncertain global situation because Russia’s invasion of Ukraine that has led […]
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, […]
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 […]
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 […]
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 […]
