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China’s coal crisis is deepening and having a far-reaching impact. It has
sent global coal prices spiraling, putting downstream consumers globally
on the backfoot.
The Indian power sector is facing critical coal inventory levels, with those
boilers dependent solely on imported coal reducing their operations
drastically, putting pressure on plants relying on domestic coal.
October may be a critical period for Indian steel mills because coal has
ballooned into a major issue, although they operated at optimal levels
in September. Some captive plants may have to stop production. The
government may also have to intervene, as the crisis deepens, to ask
power-intensive units like electric arc furnaces and induction furnaces to
curtail production -- so that electricity can be diverted to the household
sector keeping in mind the festive season ahead.
This is tricky at a time the industry is entering the peak demand season
that starts from October. The monsoon recedes and construction
activities resume full steam, which would give a fillip to long steel
consumption. The festive season generally ensures high consumer
durables demand, which would, in turn, have a positive impact on flat
steel.
With cost of production having escalated, thanks especially to runaway
coal inflation, mills have raised finished steel prices.
Steel360 wishes its readers a Happy Durga Puja and Dusshera.

Steel 360 Magazine Description:

Steel 360 is a monthly magazine covering the metal and mining industry in India. The magazine has a readership of 50,000+ across the globe in the metal and mining fraternity across the country (print circulation only in India). Each issue of the magazine carries a highly informative cover story; write-ups on trending topics, market prices & offers, current news from the metal & mining industry, latest technology trends, columns from industry veterans, import-export statistics, information on upcoming events and much more.
The magazine is a comprehensive handbook to numerous Managing heads, Directors, CEOs, Technical Heads, Marketing/Purchase/Sales Managers, Analysts and other key decision-makers at various business groups in the metal, mining, research, financial services, infrastructure and other related sectors.

Web: https://www.steel-360.com