India Steel Demand

India's imports of Russian steel rose to an eight-year high during the first 10 months of the financial year that began in April 2022, government data compiled by Reuters showed

Inward shipments rose 15% in April through October from a year earlier to 3.1 million tons, according to government figures

Currency depreciation of over 6% may have supported uptrend; industry players confident that prices have bottomed out

India's crude steel output rose by 2.56 per cent to 30.06 million tonne (MT) during the July-September period of the ongoing financial year. As per research firm SteelMint, the top six steel makers -- SAIL, Tata Steel, JSW Steel, JSPL, AMNS India and RINL -- produced 18.29 MT steel, the rest 11.77 MT came in from the secondary sector. The country had produced 29.31 MT of steel during the same quarter in the preceding 2021-22 financial year, according the data shared by SteelMint. During the said quarter last fiscal, large producers had jointly manufactured 18.39 MT steel, while the secondary industry produced 10.92 MT, it said. During the quarter ended September 30, 2022, steel exports fell to 1.41 MT from 4.20 MT in the year ago period, registering a year-on-year (y-o-y) fall of 66.43 per cent. The domestic consumption was 11.33 per cent higher at 27.52 MT, as against 24.72 MT in July-September 2021. On the outlook for the sector during the running October-December quarter, Stee

Tata Steel said domestic despatches were up 5% YoY, leveraging a strong marketing network and an agile business model

Fitch Ratings forecast strong medium-term growth to support the demand for India's steel, cement and chemicals sectors, with improved economic activity boosting power and petroleum product sales

The domestic steel demand is expected to take a hit in the coming quarters due to "very high steel prices" and continuously rising fuel prices, according to industry consultancy SteelMint India.

Union Steel Minister Ram Chandra Prasad Singh lauded the government and the people of Odisha for making big strides in development

The Nationwide lockdown in April-May impacted manufacturing, hurting consumption of the alloy

India's steel demand is expected to contract in FY21, Fitch Ratings said on Friday

This is in sharp contrast to the earlier projection of 5.1 per cent growth made just a couple of months back, in February.

Our decision to rely on railways, and not roadways, to transport both raw material as well as finished products is bearing fruit, says Anil Kumar Chaudhary

The joint venture - 60 per cent held by ArcelorMittal and the balance by Nippon Steel - was renamed AM/NS India

The report on Low Carbon Steel has been prepared by the Energy Transitions Commission (ETC) India, a research platform based in TERI in New Delhi

Soft demand from the property and manufacturing sectors will limit Chinese steel demand growth. Korean demand will soften because of the sluggish construction and auto sectors.

The country had produced 9.408 MT crude steel during the same month a year-ago, the global industry body said in its latest report.

Recently, India has been trying to unleash its growth potential through an extensive reform agenda to clear institutional bottlenecks

The demand for steel in the developed world remains healthy, while in the developing countries steel demand will continue to recover amid challenges

The steel demand in India continues to grow and is expected to increase by 5 per cent in FY19

It is not expected that India will replicate China's explosive growth pattern, World Steel Association said