In this issue

Can Covid comeback derail steel upcycle?
A detailed look at the challenges and opportunities facing the sector

Also read:
• Steel sector rises up to Covid challenge
• Tata Steel sees better margins in Q1
• Worldsteel sees steel demand growth at 5.8% in 2021
• Real estate sales likely to slow down
• China pushes domestic production with duty tweak

Read Steel Insights May 2021 issue and get a complete insight into the Indian steel value chain...!

Can Covid Comeback Derail Steel Upcycle?

The Covid pandemic has returned in a mutated and deadlier form and is now testing the resilience of stupendous recovery of the steel sector across the globe. Till end of April, it was being widely believed that the upcycle in the international steel prices would continue well into FY22 following sharp revival in demand in India and other parts of the globe, particularly in China on the back of stimulus package.

10+ mins

March crude steel production up 24% y-o-y, 8% m-o-m

India’s crude steel production stood at 10.027 million tons (mt) in March, up 24 percent over March 2020 and by 7.8 percent over February, provisional steel ministry data showed.

2 mins

Steel sector rises up to Covid challenge

Country’s primary steel sector has overwhelmingly acted upon the clarion call to provide life-saving medical oxygen supplies along with setting up hospital care facilities on an urgent basis to mitigate the second wave of the Covid pandemic.

5 mins

Worldsteel sees steel demand growth at 5.8% in 2021

Steel demand will grow by 5.8 percent in 2021 to reach 1,874 million tons (mt), after declining by 0.2 percent in 2020. In 2022, steel demand will see further growth of 2.7 percent to reach 1,924.6 mt, according to World Steel Association (worldsteel), which released its Short Range Outlook (SRO) for 2021 and 2022.

9 mins

Iron ore offers remain firm

In a recent auction bids for around 24,000 tons of iron ore fines was received for a mine in Chhattisgarh for Fe 56-58%. The material was offered at ₹2700-3400 per ton including royalty, DMF and NMET.

3 mins

Seaborne coking coal prices stable in April

Seaborne coking coal offers remained range-bound in April 2021, amid sufficient supply and limited demand from China and other major consuming markets, industry sources said.

2 mins

Traffic handled by major ports down 4.6% in FY21

The 12 major Indian ports handled 673 mt of total traffic during FY21, lower by 5% than 705 mt recorded for FY20, according to data released by IPA.

1 min

Global crude steel output up 12.65% in March

World crude steel production of 64 countries reporting to the World Steel Association was up 12.65 percent at 169.20 million tons (mt) in March against 150.20 mt in February.

1 min

China pushes domestic production with duty tweak

China has removed Value Added Tax (VAT) rebates on exports of 146 steel products effective May 1, a move that was being widely anticipated.

5 mins

JSW, JFE eye opportunities for steel in power sector

JSW Steel Ltd has signed a MoU to conduct a feasibility study with JFE Steel Corp of Japan to set up a grain oriented electrical steel sheet manufacturing Joint Venture company.

4 mins

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Steel Insights Magazine Description:

Steel Insights is India's premier and widely read monthly magazine on steel and metallurgical industry published by mjunction services ltd (A JV of Tata Steel and SAIL).It delves into the various facets of the domestic and global steel industry, such as market fundamentals, raw material price trends, price forecasts, upcoming projects, corporate updates and international trade and logistics issues.It also includes an incisive analysis of news on steel and allied industries, as well as expert opinions on relevant topics and interviews of industry stalwarts on a regular basis.

Also includes daily news headlines & daily newsletter on Steel Industry