Volatility in steel prices to continue in medium-term: SteelMint
The volatility in steel prices is likely to continue in the medium term due to the impact of the geopolitical situation on supply chain logistics, according to SteelMint.Last week, steel makers increased the prices of hot-rolled coil (HRC) by ₹1,400 to ₹60,700 per tonne from ₹59,300 a tonne on February 22, the research firm said […]
Crude oil gains a tad as industry data show inventory decline in US
Crude oil futures traded marginally higher on Wednesday morning as industry data showed a decrease in the crude oil inventories in the US.At 10.01 am on Wednesday, April Brent oil futures were up 0.06 per cent at $83.74 and March crude oil futures on WTI were at $77.34, up by 0.26 per cent. February crude […]
Scrap usage in primary steel production to touch 50% by 2047: Minister Scindia
Jyotiraditya Scindia, the Union Minister of Steel, has called for enhancing scrap usage in primary steel production from 15 per cent to 50 per cent by 2047. He pointed out that 22 per cent of the country’s steel is produced through recycling and there is a need to include the informal sector to increase the […]
WTO to take longer to decide on India-US dispute on steel duties
India will have to wait longer for the WTO’s verdict on its dispute with the US over the additional import duties imposed by Washington on Indian steel and aluminium in 2018. The WTO’s dispute settlement panel constituted on the matter has said that it needs three more quarters to finalise its report.“The panel is in […]
Capex by steel CPSEs down 14% y-o-y, at 46% of Budget Estimates
The capex by public sector enterprises under Steel Ministry dropped by over 14 per cent for the April – December period to around ₹6,043 crore and stood at 45.9 per cent of the Budget Estimate, a performance review report by the Ministry said. The report, accessed by businessline said, for the month of December, capex […]
India turns net importer of steel in Q3FY23
India turned net importer of steel for Q3FY23 (Oct–Dec), with imports outstripping exports by 7,06,000 tonnes. This is the first quarter in over two years in which India has turned net importer. For Q3FY23, steel imports were pegged at 18,46,000 tonnes against 11,40,000 tonnes of exports, a report of the Union Steel Ministry, accessed by […]