India steel: Supply likely to exceed domestic demand

Metal Junction| June 15, 2017 Following strong 8.5% y-o-y (7.6 million ton volume) growth in Indian crude steel production in FY17, we would focus more on sluggish domestic steel demand, since this would determine further volume/price growth over FY17-20. Expected capex spends in large steel consuming sectors do not lend comfort to support 4.5% CAGR [...]

June 15th, 2017|Soft Commodity|

No need to cap iron ore prices, plan to expand output: Government

Metal Junction.| June 13, 2017 The mines ministry today said it has no plans to cap the prices of iron ore as there is no shortage of the key steel-making raw material. It also said the country is looking at expanding the iron ore production and that will take care of market dynamics. “There is [...]

June 13th, 2017|Soft Commodity|

China steel, iron ore recover as worries about weak demand ease

Hellenic Shipping News| June 13, 2017 Spot iron ore and steel prices rose on Monday, clawing back some of the ground lost in recent weeks amid renewed hopes about stronger demand for metal even as worries persisted about a growing glut of iron ore in the world’s top buyer.The most-active rebar on the Shanghai Futures [...]

June 13th, 2017|Soft Commodity|

Mines ministry rejects steel ministry proposal on iron ore prices

Financial Express| June 13, 2017 The steel ministry’s proposal for fixation of iron ore prices has been categorically rejected by mines ministry, saying that the steel-making raw material is abundantly available in the country and price regulation would be tantamount to a throwback to the pre-liberalisation era. “Mines ministry does not have a plan of [...]

June 13th, 2017|Soft Commodity|

India on track to become top global steel producer

Economic Times| June 10, 2017 New Delhi: India as a steel bright spot is highly encouraging and is on track to become a top global producer, says an industry body. According to the latest report from BMI Research, demand from construction, automotive and infrastructure industries continues to accelerate.The report has put down the sector's success to [...]

June 10th, 2017|Soft Commodity|

China May iron ore imports recover from six-month low

Metal Junction| June 9, 2017 China's iron ore imports rose 5.5 percent in May from a year earlier, recovering from a six-month low in April, as mills in the top steelmaking nation scooped up more raw material as they posted strong profits.Imports of iron ore last month reached 91.52 million tons, according to data from [...]

June 9th, 2017|Soft Commodity|

Steel sector is ripe for re-rating, says CLSA

Economic Times| June 08, 2017 Mumbai: CLSA said it sees potential for Indian steel companies’ valuation multiples to re-rate given supporting factors such as confirmation of anti-dumping duties for the next four years and improving demand outlook. "Confirmation of anti-dumping duties for the next four years has put a floor to Indian steel prices. Indian steel [...]

June 8th, 2017|Soft Commodity|

Indian steel companies set to get a boost from GAIL’s local sourcing policy

Metal Junction | June 08, 2017 Prime Minister Narendra Modi’s Make in India mission received a big boost when state-owned GAIL India issued a tender for a Rs 3,000 crore pipeline project giving preference to domestic steel companies, which have been badly hit by cheap imports from China, said a report.The move will pave the [...]

June 8th, 2017|Soft Commodity|

India’s crude steel output up 4.5% in Apr-May FY18

Metal junction| June 07, 2017 The Indian steel sector has grown rapidly over the past few years and presently it is the third largest steel producer globally, contributing to about 2% of the country's GDP.The Indian steel sector has grown rapidly over the past few years and presently it is the third largest steel producer [...]

June 7th, 2017|Soft Commodity|

China iron ore rises for second day on restocking demand

Financial Express| June 5, 2017 Iron ore, China iron, China iron ore, restocking demand, steel producers, restocking demand, Dalian Commodity Exchange, steelmaking raw material Iron ore futures in China climbed for a second consecutive session on Monday, rising 2 percent, as recent rapid losses spurred restocking demand among steel producers. But a sustained drop in [...]

June 5th, 2017|Soft Commodity|