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Sushim Banerjee

Articles By Sushim Banerjee

307 Articles

Steel industry faces challenges to pursue growth with stability

Manufacturing for full FY21 grows by (-) 9.8% and IIP by (-) 8.6%. This may be compared to second advance estimates for GDP to de-grow by 8% in FY21.

Building roads at the rate of 40 km per day has been aimed during the current fiscal.

China wants to cut steel production volume; abolishes export rebates

The Chinese Ministry of Finance and the State Administration of Taxation (customs tariff commission) announced a total abolition of export rebates (13% on VAT) with effect from May1, 2021 on 146 steel items

Chinese Ministry of Finance and the State Administration of Taxation , abolition of export rebate,steel import from China,

Steel industry hoping for steady growth in 2021

It is interesting to note that developed countries, where steel consumption was set to reach a near plateau level, would together demand 8.2% more steel in 2021, while emerging economies excluding China is likely to clock a g

Steel exports by India reached a record level of 17.4 MT in FY21 (including 6.6 MT of semis) which exceeds last year’s level by as high as 55.5%.

IIP data must change for the better; infra investment to drive growth

Apart from a few segments led by automobile, tractors, 2 wheelers and FMCG products, the other segments of industry are yet to swim into the positive territory.

steel

Covid year ends on a positive note; steel demand adequate

India consumed 93.4MT of steel in FY21, 6.7% lower than the pre-Covid year. It is likely that real consumption may be revised to around 95MT when final figures are compiled.

steel

Raw material and finished goods — changing dynamics amid climate push

Current projections uniformly expect a contraction of demand and production in China in 2021. If this takes place, it would cause significant flutter in the trading price of iron ore.

Steel industry in China has performed well in the Covid 19 pandemic year with a 5.2% rise in production (@1053MT) in 2020 and a projected growth of 8% in steel consumption at 980.1 MT, according to WSA.

Change in govt policies offers industry scope to enter global value chain

On the export front, Indian steel industry has widened the country coverage from China (22%) to Vietnam (21%), the UAE (8%), Italy (8%), Nepal (7%) in finished steel.

steel

Implications of revised data on national economy

Two important data sets have been brought out recently by MOSPI on second advance estimates of national income for 2020-21 and the first revised estimates on income, consumption, saving and capital formation for 2019-20, whic

economy

Rise of 4.8% in January global steel production a welcome development

Has the steel industry left behind the phase of declining demand, fresh capacity addition not finding adequate market, falling prices, rising production cost and therefore a continuous period of poor Ebitda?

steel industry

IIP growth in H2 may positively surprise

With the damage the pandemic has created for all economic activities in the country in H1FY21, we were getting used to the downturn in almost every sphere of the economy.

IIP growth

Budget FY22: Increased infra capex to boost steel demand

Union Budget 2021 India: The Union Budget for FY22 has been hailed as growth oriented and the path it has chosen to achieve this is through investment.

Budget 2021-22, Union Budget 2021

Union Budget 2021 expectations: What is desirable in the Budget

Union Budget 2021 Expectations for steel sector: The Indian economy, which is likely to be degrown by 7.7% in FY21 (official estimates) and slated to rise by 8.8% in a V-shaped recovery assessed by the IMF and by 5.4% project

steel sector Budget 2021 Expectations, Budget 2021 Expectations for steel sector

Profiteering or Profitability? What domestic steel industry wants from price hike

A variety of responses and feedback from end-using sectors, policy planners, industry associations are filling up the pages.

steel sector

Sustained demand can rationalise steel prices

Considering WPI prices as whole sale prices and the above data belonging to retail market prices, the differential in range of prices in the two indices are appreciated.

The unlocking of pent-up demand and fresh spark in demand from the OEMs, partly to meet the current demand and partly to build inventory to get relief in a rising market are putting pressure on availability of specific items.

Steel price rise not an enigma; appetite to be sustained

In November’20 the country consumed 8.62 MT of steel which exceeds Nov’19 level by 11%.

Russia’s production also improved by 2.6% to 70.4 MT. Toppling the US, Russia also managed to improve its ranking by one notch to the fourth position among world’s top five steel producing nations.

Investment in construction, infra key to sustain demand growth

The Industrial production that entered in the positive range in the last month ( 0.5% rise in September’20) continued to clock 3.6% growth in October.

Role of construction sector for a growing economy

It must be recognised that the initial shock, disbelief and despair of the Covid 19 pandemic engulfing almost all the segments in the country have gradually paved way for a perception that although there is no overnight solu

How manufacturing sector drives economic growth

The share of manufacturing in GDP is therefore a basic indicator of the significance of the sector in a country’s economy.

manufacturing activity, PMI, purchasing managers' index, manufacturing growth, IIP, industrial production

Quality public investment a challenge

The values of vocational training are to be inculcated on an immediate basis in the pedagogy to enhance the worth of these candidates in the emerging segments of the economy.

Q2 GDP growth, indian economy, economic growth, economic recovery, recession, RBI, reserve bank

Challenges and growth paradigm for India

This is the first time that RBI has come out with economic scenario analysis for the country (Monetary Policy Committee Report, October’20).

It projects GCF as a percentage of GDP to rise from 25.4% in the current fiscal by 2.3% in FY22.

Minimise de-growth in 2020, ensure fast recovery

The PMI for manufacturing went up to 56.8 in September’20 from 52.0 in August’20. The underlying factors contributing to PMI growth rest on increased new orders and production, rise in export order, enhanced cost of produ

Atmanirbhar way of steel availability

If the current capacity is way below the requirement, there is an urgent case for capacity augmentation which requires fresh investment, either by the existing or new producers or by inviting FDI into the sector.

While the registration was earlier mandatory for the imports of about 300 steel and iron products, its scope has now been widened to include about 530 more products.

‘Shifting manufacturing base opportunity for India’

Technology transfer by setting up manufacturing facilities in India is the surest way of enhancing the indigenous manufacturing capability to become Atmanirbhar

steel, cement, natural gas, core industries output

Shifting manufacturing base opportunity for India

Technology transfer by setting up manufacturing facilities in India is the surest way of enhancing the indigenous manufacturing capability to become Atmanirbhar.

Thus to have a capacity augmentation of 300MT of steel by FY31, a domestic demand level of minimum 230MT of finished steel would be required at an annual average rate of 7.9% growth during FY20 and FY31.

Positive elements seen during contraction

The stringency index coined by Oxford University, measuring the relationship between the intensity of the lockdown and loss of economic activity, has put India in a comfortable position so far as fatality rate is concerned at

inidan economy, kharif production, economic activity, Dedicated Freight Corridor programme, GST collectionm FDI flows, rabi season, rural income

Atmanirbhar Bharat: Sectors that provide good opportunities for private investment and FDI

Make in India programme of the government comes in a full circle when the feasibility of import replacement was deliberated between steel and auto industry.

With respect to the solar panels, India’s imports comprise around 80% of the total requirement and most of these are from China.

Overcoming challenges of indigenisation to boost manufacturing sector

The recent announcement by the Ministry of Defence to indigenise production of 101 items and thereby substitute imports is very laudable.

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