Steel sector ramps up exports as domestic demand slumps

13 Sep 2021 CW Team

Due to a slowdown in construction activity and production cuts in the automobile industry due to an acute chip shortage, leading steelmakers in India are seeing sluggish demand in the domestic market, prompting top steelmakers to boost exports to keep stocks low.

JSW Steel produced 1.377 million tonnes in August, up 5% year on year but down slightly from July's output of 1.382 million tonnes. August production at Naveen Jindal's Jindal Steel and Power fell by about 2% sequentially to 660,000 tonnes.

Exports now account for around 46% of the total sales of JSPL volume of 710,000 tonnes.

VR Sharma, managing director of JSPL, cited that the company is committed to meeting its annual sales and production targets and anticipates a sharp rebound in domestic demand once the monsoon season is over.

Steel demand is typically low in the July-September quarter, when construction activity slows due to monsoon rains, according to experts.

From a peak of Rs 70,000 per tonne at the beginning of July, domestic benchmark HRC steel prices have marginally corrected to Rs 66,000-66,500 per tonne.

This is due to a drop in the price of iron ore.

Iron ore prices for September deliveries were cut by Rs 1,000-1,160 per tonne by the state-owned NMDC. Prices are also expected to fall in Odisha.

In a recent report, SteelMint reported that the Odisha iron ore fines Fe 62% index closed at Rs 6,900 per tonne, ex-mines, including royalty, DMF, and NMET in August end, down Rs 1,800 per tonne month-on-month.

In a recent report, global brokerage firm Credit Suisse expressed concern about the steel sector, citing the fact that steel prices have been falling in the country for the past three weeks.

Image Source

Also read: India to break steel demand record as economy recovers

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..