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VOL IX / ISSUE 04 / OCTOBER 2020
How Green is my Steel?
September-October generally signals the onset of India’s core festive season, when sales in steel-consuming sectors like consumer durables and auto traditionally spiral. Even while India’s GDP contracted by a record 23.9% in Q1 against 3.1% in January-March, 2020, present macro indicators like overall exports and rail freight are likely to show month-on-month improvements in September over August. Passenger and two-wheeler sales in September were up 20-22% over August but consumer durables recovery could be slow. The downside is, economy watchers fear demand could fall back post-festive season.
A lot has been happening in iron ore. A key development is that Odisha, India’s key state in terms of this precious mineral reserve, is grappling with a supply crisis that threatens the survival of scores of secondary steel units, pellets and sponge iron producers. Domestic prices too are consequently rallying. The Odisha government has given a month’s relief till October 31 to ex-lessees of mines auctioned in February to evacuate stocks and equipment. The mines ministry has sought feedback on the “proposed reforms” to the MMDR Act, but what do the iron ore-producing states feel? Globally, China’s construction boom is pushing up prices to record highs. Spotlight tracks the developments across pgs 05, 23, 56 and 60.
A unique feature of the Indian steel industry is the huge scale of production through induction furnaces. India is the first and perhaps only country using IFs to make mild steel. Cover story, on pgs 34 and 40, explores green IF options and possibilities of steel refinement through this route.
Full recovery in real estate is not yet round the corner as Industry finds out on pg 09.
Plus, we focus on a lot more. Enjoy the read!
Steel360 wishes its readers a very happy Durga Puja & Dusshera.
Find your answers in Steel 360's October edition
*Steel 360 is a monthly magazine for Iron and Steel industry professionals. Each issue comes up with an exclusive Cover Story and insightful articles from the Industry.