Steel Mills

Indian steel mills hopeful as demand rises, China eases Covid curbs

Prices have plummeted some 29% in domestic market after peaking in April

Iron ore price sinks and steel mills go dark on deepening China gloom

Consumption of iron ore has been hit by China's slumping property market and the country's inability to put the coronavirus behind it.

'Hike in export duties on iron ore, pellets to raise costs for steel mills'

India's imposition of higher export tax on iron ore and various intermediate products such as pellets will raise costs for steel mills, says Moody's

Coal shortage in India leads to soaring costs for steel producers

'Mills are paying more than four times the normal costs for procuring coal from e-auctions and from mines'

Steel costlier than Covid level after firms hike prices by Rs 2,000 a tonne

The increase was on the back of a pick-up in domestic demand in rural and non-infra spaces

Indian steel mills show mettle, reduce dependence on China for exports

Most companies resorted to exports during April and May to tide over the nationwide lockdown which impacted end-users of steel

Miners seek moratorium on dues as lockdown cripples operations

Experts believe Q1 will be a complete washout for the sector; assuming subdued activity during monsoons or Q2, revival is only expected towards the second half of FY21

2.5% import duty waiver on iron ore lumps a cost relief for steel mills

The move is likely to facilitate greater ore availability to steel mills post March 31, 2020 when licences of many merchant mines expire

Weak demand may force steel mills to offer discounts in the short-term

Demand growth had moderated to 6.4 per cent in April 2019 and ICRA said it was likely to remain lower than the FY19 Q1

Steel mills see room for further iron ore price cut

Iron ore prices fall in global markets due to oversupply and lower demand resulting from expected fall in steel output in China