Export orientation of steel reaping benefits of a globalised economy
The term globalisation defined, in a limited way, to ensure the capability of sailing into the global merchant trade within the norms of WTO stipulations, appeared feasible and beneficial for the country’s economy.
Shifting fortunes of Indian economy amid pandemic
Lockdowns (prolonged or of short duration), one of the most tested instruments to fight the crisis, implies dislocation of economic activities which hits aggregate demand.
Fluctuating trend: Steel exports must continue to sustain production
China had rolled out 375 MT of crude steel in the period (56.5%) that exceeds last year’s level by 16%.
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.
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
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
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.
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.
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.
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.
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
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?
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.
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.
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
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.
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.
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%.
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.
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.
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).
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.
‘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
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.
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