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GROUND REPORT CHINA
SEP 2017  |   Vol. VI  |  Issue #3

China Seesawed

China sends perpetual effect across global trade circles even the slightest change in government policy relating to steel or shift in demand-supply dynamics. China's dominance over the industry is seen with the current volatility in prices and supply of scrap, Iron ore and steel. It currently produces around 11 percent of its steel from scrap, compared to over 70 percent in the United States, suggesting it may have plenty of room to grow in recycling the material.

Data from the World Steel Association and CLSA showed China last year generated a record 143 million tons of steel scrap, up nearly fourfold from 2002. Domestic demand in China got a boost with the positive impact of a stimulus measure in the form of large infrastructure investment in road and rail networks, urban infrastructure and changes in the property market. The recent abundance of scrap in China followed Beijing's decision to shut mills churning out low-quality steel from induction furnaces - typically big users of scrap - as part of its drive against pollution and a glut in steel supply.

Steel360 had a ground reality check of China's steel industry and tried to reveal by speaking to manufacturers, scrap yard owners, industrial bodies and a detailed interview with senior official of China Association of Metal Scrap Utilization (CAMU) an organization committed towards encouraging steel manufacturers to utilize scrap in the cover story.

The recent Supreme order on illegal mining in India has left many miners in Odisha perplexed and also the industry in a way laid situation. The court pronounced recovery of 100 per cent compensation from the excess iron and manganese ore excavated and the miners were totally stupefied. The judgment was in response to a petition filed by Common Cause in 2014. This atypical fine from mining industry which forms the cornerstone of Odisha's economy has contributed substantially to its coffer.

In Steel industry, acquisitions, M&A's, investments is a perennial process and the stressed debts of few steel industries of India which is under the scanner of Insolvency & Bankrupty code(IBC) , Also been eyed by international steel industries & investment companies. Investor & strategist Sudhir Maheswari (he was integral part in the creation of Arcelor Mittal), founder, Synergy Capital Corp and entrepreneur Sanjeev Gupta, Executive Chairman, Liberty House in an exclusive interview, talks about the diversified interest s, the development of steel industry and the expected changes which they are going bring in.
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