Steel Prices

Spot steel prices have been rising both globally and at home since December; a hike of over 12% in the domestic market would have been the basis of negotiations for the upcoming contracts

The volatility in steel prices is likely to continue in the medium-term due to the impact of geopolitical situation on supply chain logistics, according to SteelMint. Last week, steel makers increased the prices of hot-rolled coil (HRC) by Rs 1,400 to Rs 60,700 per tonne from Rs 59,300 a tonne on February 22, the research firm said in a report. In the last six months, the steel prices have not been stable. The user industry has been witnessing price revisions on a weekly basis. "The volatility in the prices is likely to continue in the medium-term on account of geo-political situations across the globe impacting the supply chain," SteelMint said. This situation has led to changing supply-demand scenarios impacting prices of raw materials and logistics, it said. Iron ore fines with iron (Fe) content of 62 per cent were moved up to Rs 5,480 tonne in February, from Rs 4,400 tonne in December 2022. Similarly, imported hard-coking coal (HCC) prices increased steeply during this period

Stocks of financial services and information technology (IT) companies have accounted for most of the foreign portfolio investor (FPI) outflows during the first fortnight of this month

NMDC's formal demerger of the steel plant may be followed by an initial public offering, or the government could look for a stake sale

Labour cost increased 8-10% and reinforcement steel prices went up about 20%, says study scanning cities

The removal of export duty on steel products will help the domestic metal producers pull up their profits with now having the freedom to explore overseas markets as well, experts said. The government has cut the export duty on steel products and iron ore to nil with effect from November 19, 2022 -- six months after imposition of the levy on May 21. The relief comes on the back of domestic steel prices correcting by 15-20 per cent since these duties were imposed, Jayanta Roy, Senior Vice President & Group Head, Icra Limited, said. "We believe that the latest measure will help pull up the industry's profits from the second quarter lows as companies now get the freedom to explore overseas markets, depending on the pricing environment," the expert said. SteelMint India also termed the government's decision of withdrawing export duty on steel and raw material as a positive move for the industry. However, according to the research firm, the move may not help the industry in the short ..

Withdrawal of export duty may not increase volumes will boost sentiment, he says

In a Q&A, the Jt MD and CFO of the company says the worst is over as higher volumes, better demand and lower raw material cost play out in the coming quarters

Steel prices appear to have reached their bottom and are likely to go up from their current levels if supply adjustments globally are any indication in the sector, a top JSW Steel official said on Sunday. Steel prices fell around 40 per cent to Rs 55,000-57,000 a tonne in the domestic market. The prices had started falling from April-end. I don't foresee further downside in steel prices. Globally, there is a production cut of 62 million tonne. Moreover, 29 per cent of Chinese steel capacity is under bankruptcy. Global supply adjustments and higher Indian steel consumption will help keep prices firm, JSW Joint Managing Director and Group CFO Seshagiri Rao told PTI in an interview. Compared to 2021-22, domestic steel demand will be higher by nine million tonne to 115 million tonne by March this financial year, he said. The World Steel Association forecasts that demand for the metal will contract by 2.3 per cent in 2022 to reach 1,796.7 million tonne, after an increase by 2.8 per cen

Led by an increase in volumes, the firm saw net sales increase by 28.9 per cent at Rs 41,122 crore

Steel prices fell about 40 per cent to Rs 57,000 a tonne in the domestic market over the last six months on subdued export orders in the wake of the 15 per cent export levy, according to SteelMint. In early 2022, the prices of hot rolled coil (HRC) started showing an upward trend. It had become a matter of concern for the user industries as movements in steel prices have a direct impact on industries like real estate and housing, infrastructure and construction, automobile and consumer goods. The steel prices in the domestic market peaked at Rs 78,800 per tonne in April. After 18 per cent GST levy, the price was about Rs 93,000 per tonne, the research firm said. The prices started to fall from April-end and came down to Rs 60,200 per tonne towards the end of June, according to SteelMint data. It continued to fall in July and August and came down to Rs 57,000 per tonne by mid-September. SteelMint cited "government tax on steel products, subdued overseas demand and high inflation an

In a Q&A, Koushik Chatterjee, says the decision to merge seven group firms is a priority for Tata Steel and the entities involved. He adds that rupee depreciation will influence steel prices

Icra on Friday said it expects steel prices to remain under pressure in the country over the near future as the prices in the domestic market cannot be cushioned from the global trends. The rating agency also expects the steel demand in the domestic market to grow at 7-8 per cent in the current financial year, making the country the fastest-growing large steel markets globally this year. "We expect domestic steel prices to remain under pressure over the near term, since domestic steel prices cannot be insulated from the trends emerging in global steel markets," Icra Senior Vice-President & Group Head, Corporate Sector Jayanta Roy said. Domestic steel mills face a tough time ahead as the external environment is becoming more and more challenging in key global consumption markets. The steel demand in China, which accounted for 52 per cent of the global demand in 2021, is witnessing a decline as the economy prepares for the combined impact of the property bubble, strict zero Covid ...

Captive coal availability and zero-debt target by the end of the year are positives

"The prices have already bottomed out. There is no chance of reducing them further. There will be an upward price correction from Friday, July 1 mainly on account of higher input cost," he said

Tells investors at AGM that Indian steel industry is globally competitive and companies should be able to expand capacity in value-added products for both, Make in India and Make for The World

The government's objective behind the move was to cool down steel prices. However, the prices anyway had started showing a downward trend, the industry expert said.

Steel prices were in correction mode before the government imposed the export duty, impacting about 95 per cent of the steel export basket. Post-export duty, prices fell further

Futures prices of steel on National Commodity & Derivatives Exchange Limited (NCDEX) have softened significantly in the past one to one-and-a-half month period.

At the operational level, Nomura sees margin benefit for companies in the backdrop of a cut in steel prices