India Ratings said in a steel industry report on Monday that strong export demand and rising international prices will enable Indian steel producers to increase overseas shipments, although high transportation costs may cause concerns.
As the epidemic prevention measures have led to a sharp drop in steel demand in most industries, soaring steel prices in the local market may eventually face headwinds. On a month-on-month basis, the consumption of steel products in April this year fell by 23% to 6.78 million tons, and continued to decline in the second quarter.
In mid-May, India's domestic hot-rolled coil prices rose 3% month-on-month and 78% year-on-year. According to India Ratings, the main reasons for the increase in steel prices are large export orders, strong global demand and rising international prices of steel and iron ore.
However, it is worth noting that the drop in Chinese steel futures prices last week may have a certain impact on India's export orders and the country's domestic prices in the short term.
Taking into account the Chinese government's efforts to curb steel prices and the reduction in demand expectations, international steel prices may face resistance, but they will still be higher than their pre-epidemic levels.
2021.07.26
The Ukrainian Iron and Steel Manufacturers Association has submitted a temporary ban on the export of scrap steel to the Prime Minister of the country, requesting it to consider banning the export of scrap steel from Ukraine before December 31, 2023 to ensure the stable development of the metallurgical industry and the country’s economy. The…
2021.07.23
According to statistics from the General Administration of Customs of Vietnam, the country exported 5.88 million tons of steel in the first half of the year, a year-on-year increase of 50.5%. Steel exports in June rose 4.3% year-on-year to 1.02 million tons. In the context of the recovery of domestic production and the growth of…
2021.06.15
The World Steel Association’s recently released “World Steel Statistics for 2021” shows that the global crude steel output in 2020 is 1.878 billion tons, an increase of 0.5% year-on-year, and the compound annual growth rate of crude steel output from 2015 to 2020 is 3.0%. From the perspective of steelmaking technology, in 2020, the global…
2021.06.15
China’s steel imports and exports in 2020: From January to December, the total export of steel products is 53.677 million tons, and the total import of steel products is 20.233 million tons. my country’s steel exports are far greater than steel imports. Among them, 16.085 million tons of plates were imported, an increase of 5.76…
