Sushim Banerjee
Robust activities in manufacturing to lead steel demand
The significant drop in manufacturing of motor vehicles and trailers from FY18 to FY19 and till the first two months of FY20 resemble the decline in automobile production from 14.9% to 6.3% during the past two years and subse
Budget 2019 shows the need for 5-year road map
Budget 2019 India: Budget 2019 has drawn a roadmap of Rs 100 lakh crore investments for the next 5 years at Rs 20 lakh crore per annum. This is a quantum jump in the investment intentions by the government.
Budget 2019: Domestic steel industry pins high hopes on Modi government
Budget 2019-20: For steel industry, the higher investment allocation would lift up the subdued business sentiment which is acting against encouraging private corporate investment and raising the animal spirits in various crit
Sectoral partnership drive in steel sector to pay dividends
Taken together, the repo rate reduction of 75 basis points (in three tranches) in the past months should have impacted positively both the consumption expenditure and investment in the economy.
Issues of individual segment have adverse impact on steel demand
It is very much expected that this year’s Budget would provide a substantial budgetary provision for meeting the massive deficit in infrastructure in the country.
Steel industry facing growth implication challenges
For the last few months it was well recognised that GDP growth for fourth quarter in FY19 would be lower than the previous quarter and it would pull down the yearly GDP growth. The IIP for the year at 3.6% was lagging behind
Increase in investment would improve business sentiment
Past studies have established a close linkage between the rising manner of uncertainty and the decline in economic growth.
US-China trade war gradually destabilising world economy
Simultaneously, the US announced a number of stimulus measures of investment in infrastructure where the existing Make in USA policy and costly steel imports benefited the indigenous steel manufacturers to derive maximum bene
Subdued industrial growth needs big boost
Industrial production for FY19 was below the expectations. At 3.6% growth rate it was lower than last year’s 4.4%.
Ability to grow amid global slowdown is a hallmark of India
The recent global economic outlook report by IMF and the annual outlook report by ADB are both cases in point. One distinctive feature of India’s growth is its ability to grow amid an all round global declining trend with s
Despite challenges, steel industry fares well in FY 19
The crude steel production at 107 MT rose by 3.3%. Total steel imports at 8.8 MT went up by 5% and steel exports at 8.5 MT dropped down by 26%, resulting in India becoming a net importer in FY19.
India needs to prepare as automobile sector readies for paradigm shift
Many start-ups are showing the implications of innovative technologies in a sporadic manner .
Steel sector to have good scenario in current year and the next
The recent repo rate cut by the Reserve Bank of India to 6.0% has been favourably commented by ADB and is likely to enable more investment flow into the economy and would also help private consumption.
India to surpass US as second biggest steel consumer by end of this year
The apparent consumption of finished steel at 97.5 MT, registering an annual growth of 7.5%, the highest among the global players, has made India nearly touching the level of the US and in all likelihood India would occupy th
Demand in Asian region driving global steel growth
While India needs to enhance its steel exports, meeting the domestic demand should be the basic determinant of capacity augmentation efforts.
Steel pricing is largely determined by market absorption capacity
The ability of Indian steel producers to cover the major components of their cost of operations in the next year would primarily depend on the price of raw materials as cost of raw materials comprises 60% of the total cost of
January IIP falls, but difficult to gauge impact on steel demand
Growth in industrial production boosts steel consumption as some of the critical segments of industry are steel intensive. Hence, the fall in the index causes concern for steel industry.
Steel-making units for SME sector become imperative
The export of total steel (including semis) at 7.8 MT during the period, a fall of 35%, would reach 8.5-8.6 MT by the end of the current year.
To remain vigilant under trade protective regime
Now is the time to take product specific steps to thwart imports that are clearly violating standard rules of trade.
Fast changing steel market scenario to propel India amaong top players
Steel exports are included in export figures of engineering goods.
Steel imports: India should follow EU way of definitive safeguard measures
The global steel market is passing through a critical phase with uncertain elements cropping up infrequently to disrupt the slow and steady journey of revival.
Development of engineering exports segment dampening actual steel use
On a similar note, India is trying hard to develop indigenous capacity (Make in India) for machineries and equipment required for, say, new steel capacity augmentation. Otherwise, the large scale of imports of capital goods i
Budget 2019: Mix of good proposals for farmers, middle class
Small and marginal farmers owning small tracts of land would be largely benefited. Social security and health coverage for a large chunk of workers in the unorganised sector through innovative schemes announced in the Budge
SMEs restrained by lower utilisation of installed steel capacity
While the major players are operating at a level of 81% of capacity, the SME sector is restrained by a much lower utilisation of installed capacity (68%), primarily due to raw material shortages in iron ore and non-coking coa
WPI rate movement in steel categories shows healthy trend
The latest core inflation reflected in consumer price index (CPI) indicates that price level had increased by 2.19% during December 2018 and the headline inflation represented by wholesale price index (WPI) had gone up by 3.8
Indian steel export strategy getting increasingly diversified: Sushim Banerjee, DG, Institute of Steel Growth and Development
The current market realisation in Indian domestic market offers a still higher return as compared to the ruling global steel prices and therefore the urge to exports is not there.
Steel sector to get boost from government budget spending, credit flow in Q4
A lot of speculations are rife on the probable state of the sector in 2019. Now that Brent crude oil price has declined, it is not likely to go up in the coming 2-3 months, despite the alleged production cuts by Opec.
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