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 [...]
The report said that Indian steel players are likely to defer the capacity addition plans of almost 10 MT by at least one to two years. New Delhi: As demand for steel is set to rise further in years ahead, India will have to expand its steel production, said a Kearney report. The report titled [...]
Participates in a webinar on "New opportunities for steel in construction and infrastructure" Minister of Steel and Petroleum and Natural Gas Dharmendra Pradhan today addressed a webinar on "New opportunities for steel in construction and infrastructure", organized by Indian Steel Association. Pradhan speaking on the occasion exhorted the steel industry leaders to focus on making [...]
Steel manufacturers had focused on exports during the lockdowns to stay afloat Consumers and raw material providers of steel are up in arms against producers over rising prices of finished products, prompting them to write to the central government. Steel producers are justifying the price hike by pointing towards a shortage of iron ore, among [...]
