Export volumes are likely to stabilise however in FY2020, albeit at a lower level, with domestic steel production slated to grow at a higher rate of around 5.5-6%, supported by healthy domestic demand, the report added.
The spread between cold-rolled coil and HDG base prices to hot-rolled coil narrowed, with the daily Platts TSI HRC assessment remaining unchanged from Friday at USD 821.50/st.
Steel maker's decision stems from recent acquisitions of Bhushan Steel and speciality steel producer Usha Martin.
The total production of colour coated coil and sheet will reach 4 lakh tonnes per annum once the two new factories come into production.
The July-September quarter is typically a lean season for metal and mining companies, as construction activity comes to a standstill.
The steel industry, worth about $900 billion a year, is seen as a gauge of world economic health. Worldsteel represents more than 160 steelmakers.
Japan exported 1.7 million mt of steel to the US in 2017. JFE's share was 600,000 mt, or about 35% of all Japan's steel exports to the US.
The transaction would take Liberty’s total rolling capacity to more than 15 million metric tons per year.
Among structural strengths it listed out China’s continuing capacity rationalisation efforts that are likely to help moderate the global oversupply situation.
Traders said, absence of worthwhile activity from construction units in view of adverse weather conditions, mainly kept steel prices unchanged.
Please tell us your Email ID to keep you updated with industry happenings:
Get Your Brand on our portal and e-mailers
Copyright © 2018 Steel Group | All Rights Reserved | All logos, symbols & Trademarks belong to their respective owners.