Objective
The past two fiscals have seen a dramatic turnaround in the fortunes of the Indian steel sector despite the Covid-19 pandemic as prices kept soaring and reached all-time highs.
Demand, too, bounced back strongly after the initial shocks of the pandemic in fiscal 2021. Not surprisingly, steel makers finished fiscal 2022 with healthy profits and significantly deleveraged their balance sheets. Driven by bumper earnings and strengthened financials, companies stepped up capital expenditure.
Then came the bend in the steel ro(a)d in fiscal 2023.
The imposition of a raft of duties, red-hot prices of coal, and moderation in global demand — stemming from macro headwinds — pose a challenge for steel makers.
So what lies ahead?
Against this backdrop, SteelMint is organising ENGAGE 4.0 where our experts will present their views on various topics. These include:
- Global scenario: The volatile global macro-economic environment, and changed trade flows. What is the status in terms of global supply-demand, pricing, energy pricing, etc one year after the Russia-Ukraine war?
- Domestic market: The road ahead for the Indian steel industry in terms of domestic demand-supply dynamics, exports and individual capex plans?
- Pricing: Trend in steel and raw material prices, and operating margins of steel makers
- China: What is happening in China’s steel industry and what does this mean for the rest of the world?
- Technology and environment: How is India preparing for net zero targets
- Raw materials: Present challenges in scrap, iron ore, metallics, coal and the road ahead
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