Domestic steel prices have witnessedan unprecedented rise from the second half of FY2021.The economic support measures unveiled by various countries will keep the demand for steel high. The near absence from the world export market and a higher import by China are among the major factors keeping steel prices at elevated levels. Continued higher demand...
Tag: Coking Coal
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Foreign fleet owners may gain
An Indian cabinet decision to decentralise shipping arrangements for import of cargo owned or controlled by government departments and state-owned firms will remove an assured business opportunity for local fleet owners.
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Coking coal import up 18 per cent in FY14
Indian steel producers imported 33.1 million tonne (mt) of coking coal in 2013-14, an increase of 18 per cent over the previous comparable period, taking advantage of a price slump, said traders and analysts.
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Thermal coal cargo throughput at major ports up
The country's major ports saw 22 per cent jump in imported thermal coal cargo at 71.60 million tonne (mt) in 2013. Handling of coking coal, which is used mainly for steel-making, witnessed an 18.26 per cent increase
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Secondary steel firms take hit due to weakening rupee
The cost of imported raw material for secondary steel producers in the country rose owing to the recent sharp depreciation in the Indian currency. Secondary steel producers import steel scrap and coking coal, besides other things. The exchange rate of rupee depreciated up to Rs 60 per dollar thereby raising the imported raw material cost of companies. Some reports indicate that the secondary steel units conc
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Subdued demand may hit margins of steel firms
Owing to subdued demand for steel, earnings of companies in the sector may remain under pressure despite decline in the cost of coking coal and iron ore, the two key raw materials. Some analysts feel that earnings of steel firms may not improve in the next quarter and may recover only from the second half of 2012-13 as demand revives once cons
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Rising cost may prompt steel firms to hike price
Rise in coking coal prices and the increase in rail freight tariff may prompt steel makers in the country to hike prices of flat and long steel products, reports indicate. The transportation cost for the steel makers rose by Rs 60 per tonne because of the hike in rail freight from this mont
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Ore shortage has not affected output in PSU firms
Production of state-run steel companies - Steel Authority of India (SAIL) and Rashtriya Ispat Nigam (RINL) - is not affected owing to scarcity of iron ore or coking coal. Minister of State for Commerce & Industry, D Purandeswari informed the Lok Sabha. SAIL has been alloca
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Weakness in rupee may hit margins of steel firms
Credit ratings agency India Ratings expects the margins of firms producing flat steel through the blast furnace route to come under pressure if the rupee depreciates further against dollar. Therefore, the agency expects profit margin of these producers to remain under pressure in 2013, even after effec
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Ministry not in favour of coal linkage to UMSPs
In a letter to steel ministry, coal ministry has reportedly denied grant of special status to the proposed Ultra Mega Steel Plants (UMSPs) for priority allocation of coal linkages. Indian steel firms meet upto 70 percent of their demand for coking coal, used as a raw material in steel-making, through imports. The steel industry consumed 43 mn t coking coal last fiscal. By 2017, reports suggest that demand from steel plants may
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