Steel Insights - February 2014
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In this issue
The Indian government has slapped a 5% export duty on iron ore pellets to counter flight of the material out of the country, which was resulting in its shortage at steel mills. Pellet-makers and the pro-mining lobby say this is a retrograde step. Meanwhile, demand for pellets has increased from the steel-makers, which is pushing up prices of the material.
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Global crude steel output down 4% sequentially in June
China manufactured 94 mt in June, increase of 2% over last year and India’s production in June was up by 21% on year to 9 mt.
Railways' iron-ore handling up 57% in Q1
Indian Railways in Q1 FY22 transported 57% more iron ore at 45 mt over 28 mt during Q1 of FY21. Revenue earnings from transportation of iron ore during Q1 of FY22 grew 69% to ₹3,743.60 crore.
AM/NS develops India's first indigenous specialist-grade steel plates for NPCIL
Nuclear power assumes strategic importance in order to unlock national energy efficiency potential. Owing to the criticality of the service applications coupled with lack of specialist manufacturing facilities among domestic plate mills, the Indian nuclear program has always imported critical alloyed steel grades from steel mills in Europe.
India June crude steel production up 21.4%
India’s crude steel production stood at 9.362 million tons (mt) in June 2021, up 21.4 percent over June 2020 and 3.4 percent over May 2021, provisional steel ministry data showed.
SAIL biggest beneficiary of high prices: analysts
Volume pressure remains
Good times for steel makers to continue
Has the steel upcycle hit a plateau?
Liberty rides sector upcycle towards turnaround
Bolstered by strong demand and record prices for steel, iron ore, and aluminium in global markets, alongside improvements in systems and operations, Liberty Steel group, owned by Sanjeev Gupta, is now on a turnaround path being overseen by a Restructuring and Transformation Committee.
Iron-ore handled by major ports up 18% in Q1
The 12 major Indian ports handled 18 mt of iron-ore during Q1 of FY22, up by 14% as compared to 15 mt recorded in the corresponding quarter of FY21, according to data released by IPA.
S&P sees Tata Steel EBITDA hitting ₹1 trillion by FY23
Global rating agency Standard & Poor sees Tata Steel’s EBITDA hitting ₹1 trillion over fiscal 2022 and 2023 despite likely correction in global steel prices. The consolidated EBITDA of Tata Steel in FY21 was ₹30,892 crores or about ₹309 billion.
Stressed plants acquired via IBC seeing faster turnaround
Stressed steel plants acquired under the Insolvency and Bankruptcy Code (IBC) resolution process are seeing faster returns, says rating agency CRISIL in a research.
