Packing batteries with more punch
Indian researchers are working on cells that can store more energy, last longer
Steel demand has been robust in the last couple of months - P_V_SIVAKUMAR
Steel companies have hiked prices for the third month in a row on the back of demand revival and firm price trends in the overseas market.
Hot-rolled coil prices have been marked up by ₹2,500 a tonne in September to ₹40,500, while that of long products used in real-estate projects were increased by ₹3,000-39,300. Domestic HRC prices have moved up substantially from ₹36,000 tonne in July. Despite the recent hikes, HRC steel prices are still below the pre-Covid level of ₹42,000 a tonne even as domestic iron ore has been on the rising trend.
HRC prices in China continued to increase to $508 a tonne on the back of good demand. Exports from China are unlikely to jump as their realisations from domestic sales are much higher than selling abroad.
State-owned NMDC, the largest iron ore producer, increased lump (65.5 Fe) prices by ₹300 a tonne to a 22-month high of ₹3,250, while that of fines (64 per cent iron content) were also marked up by ₹2,950 a tonne.
The hike has taken the lump and fines prices to their highest levels since December and November 2018, respectively.
With the rising steel demand, NMDC’s iron ore sales in August increased by 20 per cent to 1.79 million tonne and output by 15 per cent to 1.62 mt.
Seaborne coking coal prices fell to $106 a tonne by August-end from $163 in March due to sharp dip in imports by Japan, European Union, South Korea and India due to the pandemic.
India’s coking coal imports plunged 30 per cent year-on-year and 2 per cent month-on-month in August as most steel-makers are exhausting their inventories before buying afresh. On the other hand, coking coal imports from China increased 30 per cent in June to 6.26 mt. The Chinese government is likely to promote the use of domestic coal while tightening import norms.
Domestic steel production improved 28 per cent in July to 6.65 million tonne against 5.19 mt in June, as domestic players ramped up with the easing of lockdown restrictions; on year-on-year basis, it is up 2 per cent, said India Ratings and Research.
JSW Steel said its capacity utilisation has touched 88 per cent in August from 83 per cent in July, while Tata Steel claimed that its utilisation level has hit 100 per cent.
Indian researchers are working on cells that can store more energy, last longer
To fix a broken bone, doctors often harvest another bone from the patient’s body or from someone else. It ...
Superconductors from IIScScientists at IISc Bangalore have invented a device with a nanocrystal structure ...
Engineering and construction giant L&T has won a licence from the Council of Scientific & Industrial ...
Option price falls more than it rises for the same change in underlying
A long-term vacation here is worth a check-in
The fund delivered a return of 31.5% in 2020 compared with the category’s 15.5%
Care Health Insurance’s new rider offers no great benefit. We review its pros and cons
In these isolated times when people yearn for a slice of the familiar, amateur and professional chefs are ...
While good writing wars against the cliché, television gives it a natural home
India is ready with two vaccines to beat the deadliest virus of recent times. The immunisation drive, however, ...
The storming of the Capitol on January 6 could be the prelude to yet another chapter in the US’s long and ...
Digital is becoming dominant media, but are companies and their ad agencies transforming fast enough to make a ...
Slow Network, promoted by journalist-lyricist Neelesh Misra, pushes rural products and experiences
How marketers can use the traditional exchange of festive wishes meaningfully
For Fortune, a brand celebrating its 20th anniversary, it was a rude shock to become the butt of social media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor