Industry News

SAIL expects steel prices to improve from September

Views : 138
Update time : 2023-08-15 14:20:23

 

Steel Authority of India Ltd (SAIL), the country’s largest steel-making CPSE, expects an improvement in bottom-line September onwards as average selling prices improve.

According to Anil Kumar Tulsiani, Director (Finance), SAIL, the average sale price (ASP) in Q2FY24 (July - September) is likely to be lower but is projected to improve “onwards the second fortnight of September”. The Q2 period generally covers the monsoon, a lean period in commodity demand.

The blended hard coking coal cost, which was around ₹25,800 per tonne in Q1FY24, is expected to reduce to ₹22,000-23,000 per tonne in 2QFY24. Benefits of lower coking coal prices are expected to come into play in the last fortnight of July–September period.

In Q1, SAIL’s cost of imported coal was ₹28,000 per tonne, while domestic coal cost was ₹12,000 per tonne. Blending was in the ratio of 85:15 (imported to indigenous).

Related News
Read More >>
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Mar .12.2025
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Mar .12.2025
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they? Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
Mar .12.2025
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
International crude oil prices increase on Mar 11 International crude oil prices increase on Mar 11
Mar .12.2025
International crude oil prices increase on Mar 11