Page 4 - Steel Prices

Govt ready for another cut in import duty on steel to tame prices

The government has proposed to slash import duties on steel items further bringing it to zero or near-zero levels to provide relief to MSMEs

Domestic steel players poised for strong deleveraging plans as prices surge

With profitability at record levels, even if steel prices correct by 15-20% going ahead, players would still be in a comfortable position to deleverage, says an analyst

Strengthening of steel prices to support Tata Steel's deleveraging: S&P

Sustained steel prices at these levels could lead to upward rating pressure.

Amid metal rally, SAIL's stock price rises 50% in one month

Analysts at Equirus believe the SAIL stock is 'poised for a big leap' with key triggers being capacity expansion, more room for price increase and captive iron ore resources

Real estate projects to feel the pinch as steel, cement prices rise

Road transport & highways ministry charges a 10x toll rate for major bridges, structures

Auto companies may see sharp increase in prices for steel contracts

Some have temporarily shut down units in the wake of rising Covid cases, but at least three major suppliers to the auto industry said the move was unlikely to impact negotiations

Surge in steel price opens up room for companies to increase rates

Steel prices started rallying from March after the Chinese New Year holiday

Steel prices may take 2 yrs to cool down as demand increases: JSPL MD

Steel prices might take at least two years to cool down as its demand is consistently increasing, a top industry executive said

Steel prices hiked by Rs 5,000 a tonne on global rally, iron ore rises too

The last time steel price rose was in Jan when it touched an all-time high. But it came off those highs as China moved into the new year holiday season on pressure from end users in domestic market

From JSW to SAIL, major steel companies' stocks show strong upside

Brokerages bullish on improving cycle and higher prices

Financial stress may delay Liberty Steel's project expansion plans in India

Media reports said near-collapse of Gupta Family Group Alliance's biggest lender has completely choked off the key source of funding

Metals to crude oil: Consumers face the brunt of commodities price surge

Durables makers hike prices to offset input costs

Positive cues from China to keep steel prices, demand and supply in balance

China's opening post-holidays was keenly awaited, especially in the wake of the sluggishness in the market in January

After rally, steel and iron ore on course correction led by higher supplies

Price correction started mid Jan, with secondary producers dropping drop long product prices by Rs 7,000-8,000 a tonne; primary producers followed in Feb, pruning by Rs 2,000-3,500

Govt may consider effect on industries before imposing duties

In her Budget speech, the finance minister said, "MSMEs and other user industries have been severely hit by a recent sharp rise in iron and steel prices

Reduction in duty could reduce steel prices by up to 10% in near term: Icra

The reduction of duty on steel products, as proposed in the Budget 2021-22, may bring down prices of the metal by up to 10 per cent in the near term, according to ICRA

Chinese steel mills may gain from customs duty cut announced in Budget

The cut has failed to rein in prices, as domestic steel mills raised flat steel prices by about Rs 1,500 a tonne after the announcement

Auto margins could come under near-term pressure on higher duties

Commercial vehicle companies to gain the most on scrappage, bus orders and infra boost

Record steel prices help firms acquired under insolvency code out of red

Tata Steel BSL has posted a profit of Rs 913.19 crore in the December quarter, its highest since its acquisition by Tata Steel in 2018

JSW Steel approaches auto companies for a hike in contract prices

Steel maker's move comes in the wake of widening gap between spot and contract prices, with major surge post October