After a lacklustre performance in the second quarter, several top domestic steelmakers are cutting down on capital expenditure and conserving cash, for what can be described as a long winter before demand revives. Tata Steel, JSW Steel and Jindal Steel and Power (JSPL) have decided to slash their capital expenditure for the year, says a […]
India’s new steel scrap policy has raised several market concerns ranging from a surge of mixed metal (unprocessed) scrap flowing into the country to challenges of setting up recycling centers, market participants said. On 6 November, 2019, India’s Ministry of Steel unveiled its steel scrap recycling policy after seeking industry feedback on a draft of […]
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 151.5 million tonnes (Mt) in September 2019, a 0.3% decrease compared to September 2018. World crude steel production was 1,391.2 Mt in the first nine months of 2019, up by 3.9% compared to the same period in 2018. Asia […]
Sixteen steel industry associations on five continents including Indian Steel Association today praised the agreement by a “large majority of members of the Global Forum on Steel Excess Capacity (GFSEC)” to “continue the Forum’s work on the issue of steel excess capacity,” and called upon the few dissenting members to reconsider their current position as […]
India’s core sector production in September 2019 contracted massively by 5.2 per cent from the 0.5 per cent contraction seen in August 2019. The index was dragged down by coal mining which came in at -20.5 per cent. The figures for the same month last year stood at 4.3 per cent. The cumulative growth during […]
The Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan has said that the demand of steel in the country has seen substantial increase and is expected to increase further in the future as India embarks to become a US $ 5 trillion economy. Addressing the Ministerial Meeting of Global Forum on Steel Excess […]
India’s crude steel production rose 3.5 per cent in the first nine month from January to September of calendar year 2019 to 84.18 million tonnes compared to the 81.31 million tonnes in the same period of last year, according to figures compiled by the World Steel Association (worldsteel). India produced 8.96 million tonnes of crude […]
Domestic hot-rolled coil (HRC) prices, which remained much higher than the anti-dumping duty (ADD) notified levels during FY2018 and FY2019, have witnessed a steep correction in the last few months owing to a weakening of domestic demand conditions and has dropped below the ADD stipulated level for the first time in the second week of […]
Mining companies in Karnataka are expecting iron ore prices to fall as supply from NMDC’s Donimalai mines is likely to restart. Lesser offtake of steel due to a decline in demand is another reason being cited for the fall in iron ore prices, reports Business Standard. To ensure seamless renewal of mining leases allocated to the government companies, the Union […]
Data released on Monday showed Chinese steel output rebounded in August 2019, a rise of 9.3 per cent from the same month a year before to 87.3 million tonnes; not far off the record set in May this year, according to the World Steel Association. Chinese furnaces now produce 56 per cent of the world’s […]
