+
Domestic demand to be lower in the Q1FY22
Steel

Domestic demand to be lower in the Q1FY22

Domestic demand for steel had picked up pace in the second half of FY2021, however, the second wave of coronavirus has mildly hit demand from certain sectors, says a report by CARE Ratings. We expect domestic demand to be lower in the Q1FY2022 however in Q2 demand is expected to return with unlocking of restrictions. Capacity utilisation rate of user industries will start to improve as more people get vaccinated and return to work in the coming months thereby pushing steel demand. Steel producers are likely to cover up the lost production in the subsequent months and therefore there is no change in our annual crude steel output forecast of 9-11% growth for FY2022. Having said that, domestic steel prices continue to remain at a sharp discount to international steel prices which indicates there is room for further price hike.

Click here for the full report by CARE Ratings.

Domestic demand for steel had picked up pace in the second half of FY2021, however, the second wave of coronavirus has mildly hit demand from certain sectors, says a report by CARE Ratings. We expect domestic demand to be lower in the Q1FY2022 however in Q2 demand is expected to return with unlocking of restrictions. Capacity utilisation rate of user industries will start to improve as more people get vaccinated and return to work in the coming months thereby pushing steel demand. Steel producers are likely to cover up the lost production in the subsequent months and therefore there is no change in our annual crude steel output forecast of 9-11% growth for FY2022. Having said that, domestic steel prices continue to remain at a sharp discount to international steel prices which indicates there is room for further price hike.Click here for the full report by CARE Ratings.

Next Story
Infrastructure Urban

Continental Expands Assistive ‘OnBoard’ Tech to 100+ BMTC Buses

Continental India, in partnership with the Indian Institute of Technology Delhi, Raised Lines Foundation, and Bangalore Metropolitan Transport Corporation (BMTC), has expanded its smart assistive mobility solution ‘OnBoard’ across more than 100 BMTC buses in Bengaluru. Initially piloted on 25 buses, the solution is now set to be installed in 500 buses by year-end.The expansion was officially announced at the BMTC Central Office during a press conference attended by Shri Ramalinga Reddy, Hon’ble Transport Minister of Karnataka.‘OnBoard’ is a bus-mounted assistive technology designed t..

Next Story
Infrastructure Energy

Himadri PAT Rises 48% in Q1 Amid Global Battery Push

Himadri Speciality Chemical Ltd reported its highest-ever quarterly EBITDA of Rs 234 crore and PAT of Rs 183 crore for Q1 FY26, with profitability up 48% YoY. Revenue stood at Rs 1,100 crore.CMD Anurag Choudhary attributed the gains to operational efficiencies, improved yields, and focus on high-value battery materials. Himadri also revived Birla Tyres with a new brand identity and plans a multi-platform marketing campaign.The firm signed a licensing deal with Australia’s Sicona for SiCx® anode tech, enabling localisation and commercialisation in India. Himadri also invested USD 4.43 millio..

Next Story
Infrastructure Urban

Covestro Develops Fire-Safe Foam for EV Battery Safety

Covestro has introduced Baysafe® BEF, a new flame-retardant polyurethane foam designed to enhance battery safety in EVs and energy storage systems. The foam minimises thermal propagation between cells, reducing fire risk.The launch aligns with China’s GB 38031-2025 battery regulation, effective from July 2026, which sets stringent safety standards. "This innovation represents a significant step toward enabling sustainable mobility through enhanced safety," said Akhil Singhania, Global Head of PU Specialties at Covestro.The foam's lightweight structure and fire resistance meet the needs of g..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?