Given the uncertainty on the course that Covid-19 will take in the near term, the full impact on steel industry is difficult to assess, the Kolkata-based company said predicting that the recovery of economic activity around the globe from the current crisis is expected to be slow and will critically depend on the duration of the lockdown and severity of the outbreak.
The leading graphite electrode maker sees manufacturing sector rebounding faster compared to other sectors, but supply chain disruptions are expected to continue for some time.
“Despite the near-term challenges, the Indian economy is expected to rebound at a faster pace with a clear focus to make India self-reliant. This will give the much needed impetus to the Indian manufacturing sector,” Graphite India said.
With recovery in key sectors such as infrastructure, construction, automobile and mining, the demand for steel in India is expected to rebound, the company said.
Opportunities
Opportunities in the near term include:
(a) Renewed focus on Make in India initiatives and stringent import policies will lead to the revival of key sectors in the medium term and is expected to boost the demand for steel in India
(b) Lower exports from China to India and globally, will allow Indian steel companies to tap in export opportunities
Denne historien er fra July 2020-utgaven av Steel Insights.
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Denne historien er fra July 2020-utgaven av Steel Insights.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Steel's Net Zero mission
The country’s commitment to achieving Net Zero within a targeted timeframe will now propel its steel sector towards a sustainable future in line with global trends.
Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales
Supply chain disruptions and fuel price hikes have hurt festive sales in a big way as most auto majors posted decline in sales in October.
Seaborne coking coal offers remain range-bound
Seaborne coking coal offers moved in a narrow range in October amid global supply tightness and healthy spot demand.
Global crude steel output down 8% in September
China manufactured 74 mt in September, fall of 21% y-o-y while India’s production went up by 7% to 10 mt.
MOIL embarks on expansion projects
“Even though our country is blessed with manganese ore reserves, we import 50% of the domestic requirement. We have to lower our import dependence and save precious foreign exchange.” Ram Chandra Prasad Singh, Steel Minister
Iron ore handled by major ports down 17% in H1
The 12 major Indian ports handled 27 mt of iron-ore during H1 of 2021, down by 17% from 33 mt recorded for the corresponding period of previous year.
Shrinking China output to boost India exports
“In the third quarter of 2021, the company actively responded to the pressure from external policies, such as production curtailment and dual control system on energy consumption and intensity, as well as coal resource shortage and surging prices.” Baoshan Iron and Steel Co Ltd
Indian Railways' iron-ore handling up 25% in H1
Indian Railways in April-September of 2021 (H1) transported 84 mt of iron ore, up by 25% over 67 mt during April-September 2020.
September crude steel production up 7.2% y-o-y
India’s crude steel production in September 2021 grew 7.2 percent to 9.547 million tons (mt) over September 2020 but was down by 3.2 percent from August 2021 output, provisional steel ministry data showed.
“Five enablers: way forward to sustainable cleaner steel”
Right and scalable technology, appropriate policy guidance by government, access to finance to fund transition, willingness of customers to pay for cleaner products and infrastructure for use of new technologies are the need of the hour for the sustainable and cleaner steel industry, according to Madhulika Sharma, Chief Corporate Sustainability, Tata Steel.
