Page 2 - Domestic Steel Sector

Room for domestic steel price hike paves way for Rs 76,500 cr investments

Indian steel still quotes at a 20-25% markdown in global prices

Duty cut on steel products to exert near-term pressure in Indian cos: Icra

Decision will make imports competitive, Chinese firms may gain

Steel capacity utilisation levels set to drop further to 74-75% in FY21

Capacity utilisation in the domestic steel industry has declined to 77 per cent in FY20 from 88 per cent in FY11.

Domestic steel demand seen down by 10-12% in FY21: Brickwork Ratings

In Q1FY21, finished steel production crashed by 49% and consumption by 53% compared with Q1FY20 levels

Domestic steel industry seeing demand recovery with easing of curbs: Icra

Performance of mills, especially blast furnace players, is expected to make healthy rebound in Q2, supported by rising capacity utilisation, successive steel prices hikes and low input costs

India Ratings maintains negative outlook on domestic steel sector

Expects an operational recovery to pre-Covid-19 levels in second half of FY22, though large players could recover earlier

Mining group writes to PMO for transparency in domestic steel pricing

Demands domestic steel price monitoring, regulation mechanism

FinMin told to levy tax on imported goods to boost local products: Pradhan

The proposed Border Adjustment Tax would be imposed on imported goods in addition to customs duty to bring the imported product at par with locally-made products.

Govt to hire consultancy firm to draw action plan for steel sector revival

The government is already aware of the disruptions which have been caused by the outbreak of the pandemic and accordingly various relaxations have been given to the players across the sectors

Top 10 biz headlines: FM interview on stimulus, RIL rights issue and more

Here are the top 10 headlines on Wednesday morning

Domestic steel price outlook bleak amid coronavirus pandemic disruption

Care Ratings says the performance of domestic steel makers is likely to be impacted due to Covid-19 and lockdown

Covid-19 outbreak could raise downside risk for steel sector: India Ratings

Plant capacity utilisation in India not directly impacted yet, says agency

India Ratings lowers domestic steel sector outlook for FY21 to negative

High iron ore premiums for new mine owners could alter costs for steel mills

SAIL reworks marketing strategy to draw high volume sales in November

Company clocks 36% YoY rise in volume sales to 1.40 million tonnes

Steel sector growth to slow down on weak auto, manufacturing order: Moody's

Soft demand from the property and manufacturing sectors will limit Chinese steel demand growth. Korean demand will soften because of the sluggish construction and auto sectors.

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

Domestic steel inventory at alarmingly high level of 35 days: INSDAG chief

Normal stock position is 21 days; industry officials see steel prices close to bottom even as global scenario remain grim

Assured rail business not enough for steel companies, say experts

Stainless steel coaches, foot overbridges and 4,000 km of track renewal each in 2018-19 and 2019-20 form some of the big orders announced by the railways

Centre's 300-mt steel plan a $25-bn window for equipment makers: Govt

]New Delhi, 18 OctoberThe Union government's plan for 300 million tonnes of steel making capacity by 2030-31 in the country is an opportunity for foreign plant and equipment suppliers, noted the government.An estimated Rs 25 billion in such equipment would be needed. There would be the associated need for spares, for which there is an estimate of $500 million annually in import.Union steel minister Birender Singh noted the domestic sector was growing at 6.7 per cent annually.India's annual per capital consumption of steel is 61 kg; the world average is 208 kg. According to the National Steel Policy, issue last year, the Indian figure would rise to 160 kg by 2030-31. It envisaged Rs 10 trillion in investment for the planned 300 mt capacity by 2030-31,The minister said effort would be made to ensure India becomes a global manufacturing hub. The government will provide fiscal and non-fiscal incentives for domestic manufacturers.Incidentally, to also reduce the dependence of steel makers .

Trade war: Supply cuts in China mean good news for India's steel-makers

Supply cuts in China mean better prospects for domestic steel players; macro issues to weigh on non-ferrous players