Page 3 - Steel Prices

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'

Coal shortage may lead to rise in steel prices in coming months: JSPL MD

Steel prices are expected to increase in the coming months as companies are buying coal at three times the rates a month ago, said a top industry executive on Wednesday. A tonne of coal, which was in the range of Rs 4,000-6,000 a tonne, is now costing Rs 8,000-Rs 12,000 a tonne, Jindal Steel and Power Ltd (JSPL) Managing Director V R Sharma told PTI in a telephonic interaction. He made the remarks while responding to a question related to the supply of coal in India. "Steel in India at present is in the range of Rs 50,000-Rs 55,000 a tonne. Shortage of coal has led to an increase in its prices that will have an impact on steel which may also go up due to this unprecedented rise," he said. Sharma did not elaborate as to what extent the steel prices may go up in the future. Sharma, who has over 35 years of industry experience, said India consumes 1,200 million tonnes of thermal coal or steam coal per year. However, state-owned Coal India Ltd (CIL) produces 800 MT annually, a shortf

National Mineral Index a likely solution to keep steel prices reasonable

Diversity in grade quality could make index formation difficult, say industry officials

NMDC reduces prices, steel companies roll over prices in September

NMDC, the country's largest iron ore producer, has reduced prices by around Rs 1,000 a tonne, the company informed the stock exchanges on Monday.

India's steel output expected to jump 18% to 120 MT in FY22: MoS Steel

India's crude steel output is expected to soar about 18 per cent to 120 million tonnes (MT) by the end of the ongoing financial year, Minister of State (MoS) for Steel Faggan Singh Kulaste said

Steel industry to rebound strongly but MSMEs may trail: CRISIL SME Tracker

MSMEs, which account for 90-95 per cent of re-rollers, were hit harder by the pandemic

Domestic flat steel prices unlikely to go up anytime soon: Tata Steel CEO

In an interview with Business Standard, T V Narendran talks about the company's thrust on exports in 2021-22 (FY22), Europe operations becoming self-sufficient, and the domestic demand scenario

Tata Steel Q1 consolidated PAT at Rs 8,907 cr vs loss of Rs 4,416 cr YoY

Led by strong steel prices, top line or total revenue from operations in the period under review stood at Rs 53,372 crore, up 108 per cent from the same period last year

S&P upgrades Tata Steel's long-term issuer rating to 'BB' from 'BB-'

The outlook on ratings is stable and reflects the view that the company can adequately deleverage to reduce volatility in credit metrics during industry downturns

Back to old normal: Robust demand propels metals to pre-Covid levels

In the third instalment of a four-part series on how some of the defining numbers in key sectors are springing back to the pre-pandemic level, Ishita Ayan Dutt looks at India's metals industry

Metal stocks likely to underperform broader market during H2 2021

The dollar-denominated hot rolled steel prices in China are up 27 per cent in 2021 against 13.4 per cent rise in S&P 500 index, but some analysts are turning cautious

Record steel prices inject life into industry; India set to boost capacity

Industrial demand propels rallies, with plants straining to boost supply after lying dormant during pandemic.

Rising global steel prices may tone down a bit as supply eases:CARE Ratings

Led by China and India, world steel production grew 15% YoY during the first five months of CY21

With massive investment plans, steel leads India Inc's capacity expansion

Several top companies, led by steel majors ArcelorMittal Nippon Steel India (AM/NS India), JSW Steel, Tata Steel and Hindalco, are planning to expand capacity in the next few quarters

Room for domestic steel price hike paves way for Rs 76,500 cr investments

Indian steel still quotes at a 20-25% markdown in global prices

MSME engineering exporters seek PM's intervention on rising steel prices

Exporters in the MSME segment have sought PM Narendra Modi's intervention on rising steel prices, stating that the industry needs inputs at affordable rates for global markets.

Industry body IPMA seeks govt intervention to regulate rising steel prices

Industry body Indian Pipe Manufacturers' Association (IPMA) has sought government intervention to regulate the prices of steel, which are trading at an all-time high in India. In a letter to Union Steel Minister Dharmendra Pradhan, the body has also sought a temporary ban on its export, a move which will prevent steel players from diverting their produce to the international markets. "Pipe manufacturers and MSMEs are struggling for a long time due to increased prices and shortage of steel in the domestic market. We had approached your (Steel Minister) office, requesting your kind intervention for regulating prices and imposing a temporary ban on steel export," the letter dated May 20, 2021 said. The association said it has also marked a copy of the letter to the offices of Prime Minister Narendra Modi, Minister of Commerce and Industry Piyush Goyal, NITI Aayog CEO Amitabh Kant, Commerce Secretary Anup Wadhawan, Secretary Department for Promotion of Industry and Internal Trade ...

Tata Steel bulks up for growth without compromising its deleveraging target

The upturn in the steel cycle has allowed it to reconsider overseas asset sales and plan domestic expansion and acquisitions

Surging steel prices not to affect domestic demand says Tata Steel CEO

The rising prices of steel which is widely used in sectors like construction, auto, etc will not affect the demand in the domestic market, Tata Steel CEO and Managing Director T V Narendran has said.

JSW Steel's April crude steel output dips 5% as it focuses on oxygen supply

In April, over 20,000 tonnes of LMO were supplied from firm's steel units; company was supplying 185 tonnes a day of LMO mid-April, which has now been raised to 1,200 tonnes