Page 7 - Steel Sector

Steel exports still attractive amid hopes of demand revival at home

A prolonged monsoon, weaker demand, tight liquidity and a sharp fall in home prices affected the domestic steel industry in the September quarter

Weak demand, drop in prices may keep steel sector Q2 performance muted

Steel players have tried to make up for the poor sales by increasing export volumes

Govt steps post-budget and festive season will boost demand: JSW Steel

Since the past few quarters, the steel sector has been hit badly due to the slowdown in real estate, auto and infrastructure sectors

Govt working on measures to make steel sector 'globally competitive'

Despite short-term challenges and the current slowdown, it is believed that India's long-term growth story remains intact, the ministry added

Steel import rules restrictive despite economic slowdown, says EEPC

While compulsory registration will monitor steel product inflow into the country, the specifications seem unwarranted, the engineering exporters' body said

Ind-Ra lowers outlook on steel sector on sluggish demand expectation

Assigns 'stable-to-negative' outlook from 'stable' for remainder of FY20

Asian steel firms get negative outlook from Moody's on weaker profitability

Cites rising input costs, inability to pass on higher costs for revised outlook; India's steel demand to remain strongest in region, but auto and manufacturing sector demand could drag

Economic slowdown: Steel consumption set for slowest growth in three years

The S&P BSE Metal Index has also plunged about 30% so far this year

Steel demand is expected to pick up in H2, says Tata Steel's T V Narendran

The steel sector has been facing demand worries with a slowdown in almost every user industry

Nithia Capital identifies Indian stressed steel assets for acquisition

While Nithia has zeroed in on about 15 assets, only some are expected to materialise

Chhattisgarh offers power rebate to ailing steel units, industry wants more

They want sponge units and rolling mills to be included; they also want a higher rebate than the 80 paise per unit currently being offered

ArcelorMittal reports $447 mn loss for June quarter due to low steel prices

Sales increased to $19.3 billion during the quarter as against $19.2 billion in the year-ago period, registering a marginal rise of 0.5 per cent

Lower realisation, rising imports may hit steel firms' earnings: Analysts

Lower realisations, rising imports and higher competition in flat products may weigh on earnings growth of Tata Steel, JSW Steel, etc estimate brokerages

India narrowing gap with world leader China on steel sector jobs: Study

At 30% of global steel industry jobs, India is only six percentage points behind China's 36%, but it is behind in terms of the sector's contribution to GDP

Steel players ready capex plans to substitute cheap imports for industry

During April to November 2018, India's finished steel imports surpassed exports by 0.7 million tonne

Why the future of steel, non-ferrous metals is circular amid climate change

Despite its many advantages for the environment, India's march towards circular economy that focuses on end-of-life recycling of products has been slow

Our target is to produce 300 million tonne of steel by 2030-31: Govt

The Steel minister said spares worth over $500 million will have to be imported every year to meet the needs of India's steel industry by 2030-31

Growth levers intact for steel players as rupee, firm demand support prices

The rupee's depreciation against the dollar and strong domestic demand continues to support steel prices, buoying stock prices for entities in the sector, unlike the volatility seen in most other commodity stocks. Tata Steel and JSW Steel, the two most favoured ones among analysts, have significantly outperformed the broader indices over the past three months. The trend is likely to sustain, say the analysts, who believe Steel Authority of India (SAIL) and Jindal Steel and Power (JSPL) will also gain.Flat steel products, used for making automobiles, white goods and the like, saw prices hiked last month by Rs 500-1,000 a tonne. Analysts expect a similar rise in October, too. Prices of long steel products, which find use in construction, have risen since their August low. Finished steel consumption growth, up from 3.1 per cent in 2016-17 to 7.8 per cent in 2017-18, is to maintain a high single-digit in FY19, says Fitch Ratings.One reason for the higher steel pricing is rupee ...

JSPL and NMDC key gainers from higher domestic steel pellet prices

Disruptions in supply likely to help sustain prices in the near future

Steel firms likely to see healthy growth in volumes, profitability in FY19

Analysts are bullish on improving volumes, realisations