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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.
Raising the bar: Indian steel sector on capex spree
Indian steel industry, particularly the large primary steel makers, are ferociously creating new production capacities prodded by an apparent commodity supercycle, sustained high domestic price levels, profit reserve buffer created out of a spiraling revenue and margin improvement supported by aggressive investment in infrastructure by the government, a stated policy to overcome the ravages of the Corona pandemic.
Traffic handled by major ports up 31% till May
The 12 major Indian ports handled 122 mt of total traffic during April-May 2021, up by 31% than 93 mt recorded for the corresponding month of previous year, according to IPA data.
Global crude steel output up 3% in May m-o-m
China manufactured 99.5 mt in May, increase of 7% over last year and India’s production in May up by 47% on year to 9.2 mt.
NMDC steel plant commissioning, demerger delayed to FY22-end
As with all other customers who offtake iron ore, NMDC has a long-term agreement for the steel plant and iron ore would be supplied at arm’s length pricing.
Seaborne coking coal offers rise in June
Seaborne coking coal offers increased in June. The premium variety was quoted at $190 per ton FOB Australia on June 30 as against $152 on May 28.
MN Dastur to set up first industrial scale Carbon Capture project for ArcelorMittal
M N Dastur & Co’s foreign arms, US-based Dastur International Inc and Dastur Energy Inc, have been awarded a US Department of Energy (DOE)-funded study for the design and engineering of a carbon capture project for ArcelorMittal’s North America facility.
May crude steel production up 47% y-o-y
India’s crude steel production stood at 9.2 million tons (mt) in May 2021, up 46.9 percent over May 2020 but was down by 0.9 percent from April 2021, provisional steel ministry data showed.
GR Infraprojects sees roads, railways driving demand
“While the government’s announcement to restart work is a step in the right direction, interactions with stakeholders indicate it will be some time before normalcy returns. In 2021, the execution is expected to decline on account of low awarding in 2020 coupled with Covid outbreak.”
Canada commits financial support to Algoma's green steel plan
Canadian government has committed Canadian dollar (C$) 420 million to help Algoma Steel become the ‘greenest’ flat-rolled steel producer in Canada.
India April Crude Steel Production Up 152.1%
India’s crude steel production grew 152.1percent to 8.3 million tons (mt) in April 2021 over April 2020 but fell 19.7 percent from March 2021 level, provisional steel ministry data showed.
Oxygen Returns To Steel As Case Load Drops
As Covid caseload drops and need for oxygen gets moderated, steel sector is now looking eagerly at resumption of normal operations.
Second wave of Covid keeps car sales suppressed in May
We anticipate that factors like pent up demand and the demand for personal mobility will continue to be quite significant once the markets open. Naveen Soni, Sr. Vice President, Toyota Kirloskar Motors
Traffic handled by major ports up 30% in April
The 12 major Indian ports handled 30% more cargo at 61.53 mt in April than 47.506 mt recorded for the corresponding month of previous year, according to data released by IPA.
Shyam Metalics IPO to fund diversification
Shyam Metalics and Energy Ltd (SMEL) is diversifying its product portfolio by entering into segments such as, pig iron, ductile iron pipes and aluminium foil.
Railways' iron ore handling surges 89% in April
Indian Railways in April 2021 transported iron ore of 14.88 mt, up by 89% from 7.88 mt during April 2020. Revenue earnings from transportation of iron ore in April 2021 was ₹1,182.18 crore.
Second wave hurts manufacturing sector
Industrial sectors across the spectrum that use steel as a major component have been severely impacted during the second wave of the pandemic.
Seaborne coking coal offers surge in May
Seaborne coking coal offers registered steady gains in May on restocking demand from the steel mills amid firm steel prices and downstream demand.
Iron ore market to stay firm in near term
Captive production to rise in FY22
Green steel to reset industry cost structure
Steel making is responsible for around 7 percent of global emissions, emitting pollutants not only through burning of carbon but also through the chemical process involved in its manufacturing.
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.
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.
“NMDC will increase production by more than 50% in three to four years.”
Iron ore mining showed a sharp growth on a yearly basis in FY21 on the back of robust demand from the steel sector due to the sharp recovery in domestic as well as global demand. And NMDC was well-positioned to take advantage of it. Despite Donimalai mine remaining shut and heavy rains hampering mining activities in Chhattisgarh, the state-owned miner was able to post significant growth in operations in FY21. And with the resumption in mining at Donimalai, 10 mtpa of upcoming beneficiation facilities and with new reforms in mining rules, NMDC is set for brighter days ahead. Sumit Deb, Chairman-cum-Managing Director of NMDC spoke to Ritwik Sinha of Steel Insights on various opportunities for capacity enhancement and efficiency improvements.
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.
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.
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.
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.
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.
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.
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.