Domestic Steel Sector

Analysts see long term growth intact for Tata Steel after Q3 tops estimates

Despite near-term challenges such as high imports and lower realisations, the long-term outlook for Tata Steel remains positive, analsyts at Motilal Oswal said

Brokerages split after JSW Steel Q3 results miss estimates; share down 4%

JSW Steel reported a consolidated net profit attributable to the owners of Rs 717 crore in Q3FY25, reflecting a 70.3 per cent decline Y-o-Y, compared to Rs 2,415 crore in Q3FY24

JSW Steel Q3 Preview: Profit may plunge up to 80%, Ebitda to drop 30% YoY

JSW Steel is expected to face a challenging Q3FY25, with analysts forecasting weaker earnings due to softer steel prices and subdued demand

Jindal Stainless races 4% as Nuvama upgrades to 'Buy,' raises target price

The rally in Jindal Stainless shares followed an upgrade by Nuvama Institutional Equities (Nuvama), which raised its rating on the stock to 'Buy' from 'Hold' and set a revised target price of Rs 836

Domestic steel sector still in recovery mode post-Covid: Tata Steel CEO

The steel sector in the country is still in recovery mode after the Covid pandemic, Tata Steel CEO and MD T V Narendran said on Monday. He said demand for steel will continue to grow, backed by the government's focus on infrastructure development. This (2023) has been good year for the steel sector in India, even though it was a challenging period globally, Narendran said here. The recovery of the steel industry is still continuing post the global pandemic. In fact, we recovered well due to good handling of micro-economy by the RBI, and the investment that has been made for infrastructure development, he said at a New Year programme here. The demand for steel grew 10-12 per cent in 2023 and this trend should continue, he said, while expressing apprehension about increasing import of steel from China. China has been exporting 8 million tonnes of steel every month (in 2023), which was the highest since 2015, and this has an impact on international steel prices as well as profitabili

India's steel production grows 11% to 11.7 MT in Nov 2023: Worldsteel

India has registered an increase of 11.4 per cent in its crude steel production at 11.7 million tonne (MT) in November this year, according to World Steel Association (worldsteel). During January-November, the country's production was 12.1 per cent higher year on year (y-o-y) at 128.2 MT, the global body said in its latest report. The global steel production in November was at 145.5 MT, 3.3 per cent up over same month in 2022. The world output rose marginally by 0.5 per cent to 1,715.1 MT in January-November 2023, worldsteel said. China produced 76.1 MT steel in November, up 0.4 per cent over November 2022. It produced 952.1 MT in January-November, higher 1.5 per cent y-o-y. In November, Japan's output fell 0.9 per cent to 7.1 MT, while the overall production was 2.8 per cent lower at 80 MT during January-November 2023. The US produced 6.6 MT steel in last month and 73.9 MT in the eleven-month period of 2023. Russia produced 6.4 MT in November and 70.2 MT in January-November 2023

Domestic steel demand to grow 9-10% in FY24, says revised ICRA estimate

Domestic steel demand, ICRA said, was poised to grow at a double-digit compounded annual growth rate (CAGR) of 10.5-11 per cent between FY2022 and FY2024

Jindal Stainless pitches for imposition of CVD on stainless steel imports

Consolidated revenue was at Rs 10,183.96 crore, higher by 25.44 per cent as sales volume increased

Icra revises outlook for domestic steel demand to 7-8% for next fiscal

Icra on Wednesday revised its outlook for domestic steel demand to 7-8 per cent for the next fiscal. Earlier, the ratings agency had estimated the demand to grow in the range of 6-7 per cent. "With the central government's capex outlay in FY2024, Icra has revised upwards its steel consumption growth estimate for FY2024 to 7-8 per cent from 6-7 per cent," it said in a report. In 2023-24, the capital expenditure is budgeted at Rs 10 lakh crore which will constitute 3.3 per cent of GDP. In the ongoing fiscal also, the domestic steel consumption growth has remained strong supported by the government's push for infrastructure-led economic growth. Jayanta Roy, Senior Vice-President & Group Head - Corporate Sector Ratings at ICRA, said, "With steel consumption expected to grow in high-single digits next year, we expect the industry's capacity utilisation rate to improve to around 80 per cent in FY2024, despite the commissioning of some new expansion projects." The consumption of finishe

Aftermath of Russia-Ukraine war dims the sheen on steel industry

But strong domestic demand and cooling raw material prices encourage manufacturers to stay the course on capex plans

Domestic steel prices inching up on rising cost, pick-up in demand

Currency depreciation of over 6% may have supported uptrend; industry players confident that prices have bottomed out

Domestic steel industry hit by moving train post govt's duty measures: ICRA

The domestic steel sector has been "hit by a moving train," ratings agency Icra said reacting to the duty-related measures taken by the government.

Domestic stainless steel demand expected to reach 20 MT by FY47: Report

Domestic stainless steel demand is expected to reach 20 million tonne (MT) by fiscal year 2047, according to a report.

Ind-Ra maintains stable outlook for H2FY22 on domestic steel sector

Higher coking coal prices could moderate per-tonne EBITDA margins, but absolute EBITDA is likely to be adequately compensated by robust sales volumes and elevated price levels

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