Steel 360 - December 2021

In dieser Ausgabe

India's leading steel mills have announced a downward price correction.
What led to the revision?
Global steel prices have been correcting for around a month now, dragged
down by lower thermal and coking coal and met coke prices, exerting
pressure on domestic mills. Even though Chinese steel futures have
remained stable since early-November, prices are not likely to revise
upwards soon because of China’s production cuts and an overall lack of
demand as it, along with western countries, enter deep winter, a lean
construction period. Moreover, China is not encouraging too much of
carbon-spewing industrial activity ahead of the Winter Games.
Raw material prices have eased for Indian mills over November, putting
less pressure on production costs. The Australian premium low vol HCC
coking coal lost around $90/t over last fortnight while NMDC’s iron
ore lumps prices dropped to eight-month lows while global spot prices
of the benchmark Fe62% fines declined to $98/t levels from previous
stratospheric highs of $230/t. Import prospects are up with the drop in
global prices since landed costs are lower than domestic.
Our Cover Story focuses on the Indian Association’s current views and
outlook. Read the full interview with Alok Sahay, Secretary General and
Executive Head of ISA, inside.