Data from union steel ministry reveals that sales of Steel Authority of India (SAIL) contracted 2.71 per cent during April-December 2012 to 76.03 lakh tonne from 78.15 lakh tonne in the year ago period. Similarly, sales of Vizag-based Rashtriya Ispat Nigam (RINL) also fell over 17 per cent to 17.86 lakh tonne compared to 21.63 lakh tonne reported during this perio
Tag: demand
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Reports suggest possible rise in steel prices
Agency reports quoted officials from some public sector steel firms as saying that domestic steel prices may recover going forward because of improving demand and rising global prices. While state-run Rashtriya Ispat Nigam (RINL) is among the few domestic firms that had effected price hikes, Steel Authority of India (SAIL) expects to raise price
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Steel capacity grew at 8% CAGR in 2004-12
According to a research report on steel industry by CARE Research, domestic steel capacity increased at a compounded annual growth rate (CAGR) of 8 per cent in 2004-05 to 2011-12. During the same period, steel production in the domestic market also recorded a similar increase on line with the domestic steel capacity, the report shows
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Steel sector witnesses subdued growth in consumption
Data from the union steel ministry shows that consumption of finished steel in the country rose a mere 3.9 per cent to 54.8 million tonne (mn t) in Apr-Dec 2012 from 52.7 mn t in the year-ago period. Industry watchers attribute the muted growth in steel consumption to the subdued demand from the end-use
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PPAC cuts growth forecast of fuel sales
Data released by the Petroleum Planning and Analysis Cell (PPAC) shows that fuel sales in the country may grow 5.2 percent in 2012-13, down from its earlier projection of 6.1 percent. In 2011-12, the sales grew 5 percent and the country consumed 148.13 million tonne of fuel, data show
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Ore price rises on expectation of supply disruption
Since early December, the price of spot iron ore rose around 33 percent and it is said to be trading almost at a 15-month high because of expectation of supply disruption. Traders expect that iron ore export from Australia, leading ore exporter, may be affected by the upcoming cyclo
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Investment in infra holds key for steel demand
Experts and industry bodies feel that steel demand may not pick up in the country unless the government realises its targeted investment of $1 trillion in infrastructure sector during 2012-17 (12th five-year plan). In order to attain this target, government must address regulatory hurdles, delays in project execution, amo
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India steel demand may grow faster than global growth
According to industry players, steel demand in India would grow faster than the demand growth across the globe during 2013 because of better economic growth in the country. According to Chandra Shekhar Verma, Chairman of Steel Authority of India (SAIL), India is a "demand centre where steel growth would rise in multiples of 1.2 of gros
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Deal on US fiscal cliff raises oil prices
Crude oil futures in the international market rose marginally in recent trade because traders expected the US economy to avert recession after the US government arrived at a deal on fiscal cliff. Recently, the Senate and the House of Representatives approved a deal preventing a raft of aust
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Panel suggests annual revision of gas price
A committee headed by C Rangarajan, Chairman of the Prime MinisterÂ’s Economic Advisory Council (PMEAC), suggested an annual revision in the price of natural gas produced in the country. The revision should be based on monthly moving average of net back price for producers of Indian LNG and the other volume weighted price of USÂ’s Henry Hub, UKÂ’s