The US Commerce Department will remove 30 steel and aluminum product types from its list of “general approved exclusions (GAE),” again subjecting these items to duties under the nation’s Section 232 metal tariffs, the department said Dec. 9. “Based on Commerce Department’s review of the public comments received in response to the Dec. 14 [2020] […]
Despite being hit by the lack of construction activities due to covid-19 for a year, the steel industry has bounced back and had reported a 25.6% growth in crude steel production in the first eight months of 2021, a report by Infomerics Valuation and Rating said. According to government data, the country’s crude steel production […]
Higher input costs coupled with softening steel prices is expected to hurt earnings of the domestic steel industry from December quarter onwards, ratings agency ICRA said. Among the input costs, skyrocketing coking coal prices in the spot market is hurting companies’ earnings, it said. Nonetheless, the industry’s absolute profitability metrics will still remain at healthy […]
Union Steel Minister Ram Chandra Prasad Singh has met a delegation of Mongolian Parliamentary and discussed the possibility of importing good-quality coking coal from the land-locked nation. The Mongolian Parliamentary Delegation is on a seven-day visit to India from November 30, 2021, on the invitation of the Parliament of India, the Ministry of Steel said […]
Demand for steel from sectors like infrastructure, automobile and engineering fell by more than 5 per cent to 94.9 million tonnes during the financial year ended on March 31, 2021, Parliament was informed early this week. Building and construction sector along with infrastructure, automobile, engineering and packaging and defence had consumed 100.2 million tonne (MT) […]
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 145.7 million tonnes (Mt) in October 2021, a 10.6% decrease compared to October 2020, with China leading the way with a sharp decline. China produced 71.6 Mt in October 2021, down 23.3% on October 2020. India produced 9.8 Mt, […]
Ratings agency, ICRA, in its latest research on the steel sector, said that Chinese steelmakers could brace for an extended period of weak domestic demand as the economy goes through the process of rebalancing of an overheated property market, which was a key growth engine driving the country’s steel demand for the last two decades. […]
China’s daily crude steel output fell 6.1% from a month earlier to 2.3 million tonnes in October, its lowest since December 2017, according to Reuters calculations based on data released by the statistics bureau on Monday. For the month of October, the world’s top steel producer made 71.58 million tonnes of the metal, falling for […]
Driven by the market dynamics, steel prices in the country have risen but are still competitive as compared to prices of the metal in the international markets, a steel ministry official said during a CII meet. Steelmakers in the country have reportedly raised prices of benchmark hot-rolled coil by up to Rs 3,500 a tonne […]
Global crude steel production declined in September, marking the fourth straight month of month-over-month declines. September global crude steel production fell to 144.4 million tonnes, the World Steel Association reported last week. Metals producers around the world have felt the burden of rising energy costs. Zinc prices, for example, have since retraced but earlier this month […]
