- Report ID : MD2976 |
- Pages : 220 |
- Tables : 47 |
- Formats :
India Semi-finished Steel Market Size, Statistics, Growth Trend Analysis, and Forecast Report, 2023 – 2033
The India Stainless Steel Flat Products Market is segmented By Type (Billets, Blooms, Slabs, Ingots), By Rolling Analysis (Hot Rolled, Cold Rolled), By Application (Automotive, Construction, Consumer Goods, Industrial Machinery, Energy & Power, Others), and By Geography (North, Northeast, East, Central, West, South).
The India Semi-finished Steel Market shall reach a value of INR X Crores in 2033, growing with a CAGR of 3.6% during the forecast period of 2023 to 2033
A foundry produces semi-finished steel and intermediate steel. Before it can be turned into final items, more processing is required. To satisfy the varying demands of various sectors, semi-finished steel products are offered in a variety of sizes, grades, and shapes. It is employed in the rolling of iron and steel to create finished goods.
In recent years, the dynamics of the Indian market for semi-finished steel, which includes billets and sponge iron, have changed significantly. The billet market in Mandi Gobindgarh, a city in Punjab, is one of the most important indications for the domestic market. But as the financial year’s conclusion nears, the market has seen only a little demand for billets, and purchasers have shown caution.
The export of steel (rolled and semi-finished products) by Indian steelmakers grew by 13% in April 2023 compared to the same month in 2022, reaching 855 thousand tonnes. As a result, the steel shipments for export rose to their highest level in 13 months. According to information from the Joint Plant Committee (JPC) of the Indian Ministry of Steel, Argus Media reported it. Following the elimination of export tariffs in November 2022, India’s steel exports have continued to increase.
Billet prices are rising in major markets
Recent changes in electricity costs in Mandi Gobindgarh (Punjab) and Chhattisgarh suggest that further reductions in billet pricing are unlikely. Despite fluctuations caused by average demand, rolling mills have managed to keep rebar and wire rod costs within a narrow band with few adjustments. While the sponge iron market has been slightly slow, suppliers have been effective in maintaining prices within the predicted range. Notably, in the Central and Eastern areas, the current conversion spread from sponge pellets to billets is between Rs 15,200 and Rs 15,700 per tonne.
This scenario has the potential to boost the Indian semi-finished steel market in a variety of ways. For starters, a change in electricity tariffs can bring stability to the billet market, preventing prices from falling further. This can boost customer confidence and inspire them to make purchases. Second, rolling mills’ range-bound prices for rebar and wire rods can contribute to a more predictable and sustainable market, attracting both local and foreign clients. Finally, the effective preservation of pricing in the sponge iron market demonstrates sellers’ resilience and capacity to adjust to market situations, which can increase the overall stability of India’s semi-finished steel market.
Buyers’ Attitudes Towards Sponge Iron Market Volatility
In recent years, the performance of the sponge iron market has been mixed, with certain regions showing indications of progress while others have remained sluggish. The market, on the other hand, has been characterized by erratic price swings, which creates risk and uncertainty. As a result, purchasers have taken a cautious approach, preferring to retain their positions rather than place large orders. This condition offers a threat to India’s semi-finished steel business. The sponge iron market’s inconsistent performance and unpredictable price swings can cause problems for market players such as producers, dealers, and purchasers. Price instability makes it difficult for purchasers to plan their procurement strategy and make educated selections.
Billet prices in the Indian semi-finished steel market have remained constant, indicating a favourable picture for the near future. Power issues in areas such as Mandi Gobindgarh (Punjab) and Chhattisgarh have bolstered market expectations. The sponge iron market, on the other hand, has seen modest action due to moderate demand. Different regions have seen varied trends, with some seeing higher offers and fewer transactions and others reporting good spot buying. The price stability of billets creates a favourable climate for market participants such as manufacturers, traders, and purchasers, allowing them to make informed judgements and organise their activities appropriately. The relatively low activity in the sponge iron market, on the other hand, offers difficulty since it signals a less active demand picture.
Competitive Analysis
Together, SAIL, Tata Steel, and RINL produce more than 10% of all semi-finished goods (billets/pencil ingots, slabs, and blooms) produced for sale. The secondary sector is responsible for the remainder. The real proportion of the key producers in the global market for semis, however, is only around 12% due to the fact that both imports and exports were predominantly carried out by the big manufacturers.
Years considered for this report
India Semi-Finished Steel Market Research Report Analysis Highlights
Industry Segmentation and Revenue Breakdown
By Type Analysis (Revenue, INR Crores, 2023 - 2033)
By Rolling Analysis (Revenue, INR Crores, 2023 - 2033)
By Application (Revenue, INR Crores, 2023 - 2033)
By Geography (Revenue, INR Crores, 2023 – 2033)
Semi-finished steel Market companies
Available Versions of Stainless-Steel Flat Products Market Report:
Global Semi-finished Steel Products Market Research Report
US Semi-finished Steel Products Market Research Report
GCC Semi-finished Steel Products Market Research Report
APAC Semi-finished Steel Products Market Research Report
Europe Semi-finished Steel Products Market Research Report
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India Semi-finished Steel Market Research Report
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