Steel Industry Update And Outlook For FY22: CARE Ratings 
An employee secures a belt wrap to a coil of galvanized steel held by a coil grab crane at the manufacturing facility. (Photographer Vivek Prakash/Bloomberg)

Steel Industry Update And Outlook For FY22: CARE Ratings 

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

CARE Ratings Research Report

The second half of the Covid-19 struck financial year 2020-21 saw an unprecedented rally in domestic steel prices which seems unstoppable even in the current FY22.

Domestic flat steel - hot rolled coiled prices are up 40% since April 2020 and prices of long steel- thermo-mechanically-treated are nearly 30% higher as on March 2021.

Steel prices continue to set new record highs month after month. In April 2021, domestic steel players announced further price hikes by up to Rs 1,000-2,000 per tonne in HRC and around Rs 3,000 per tonne in cold rolled coil.

HRC are offered at Rs 59,700-60,000 per tonne in April 2021, up from Rs 36,950 per tonne in April 2020.

This is the highest level seen since 2008, the year of the financial crisis.

Click on the attachment to read the full report:

CARE Ratings Update on Steel Industry FY21 & Outlook FY22.pdf

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