India Metals, Mining Q3 Results Preview - Mining Companies To Outperform Primary Steel Producers: Systematix

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Systematix Research Report.India’s steel production and demand remained strong during the quarter, persistently resilient compared to the rest of the world, a scenario we have seen throughout the current calendar year. Over the January-November 2023 period, India’s crude steel production increased 8.6% YoY compared to 1.4% growth in global crude steel production. Developed economies like the USA and Japan have recorded a decline in steel production during the same period (USA -0.4% and Japan -2.4%). India emerged as the second largest steel producer in the world during April-November FY24 with domestic finished steel production reaching 89.7 million tonne, an increase of 14.3% compared to the corresponding period last year. The consumption surge underscores the pivotal role that steel plays in various sectors driving economic development and progress, as also indicated by various economic indicators. However, the same period was marked by rising imports and subdued steel prices with China resorting to exports in the face of sluggish local demand and elevated production. Prices of major base metals fell YoY during the quarter, with zinc/aluminium/lead recording a decline of 16.8%/5.8%/1.7%. Sequentially, zinc and aluminium prices rose 2.9% and 1.8%, respectively. Copper London Metal Exchange price was up 2% YoY and down 2% QoQ to $8,169/tonne. Silver prices slid lower by 1.4% QoQ but were higher by 7.8% on a YoY basis..Click on the attachment to read the full report:.Building Materials Q3 Results Preview - No Sign Of Demand Revival, Stable Margins: HDFC Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

India Metals, Mining Q3 Results Preview - Mining Companies To Outperform Primary Steel Producers: Systematix

India turns net importer of steel with rise in Chinese imports which has also kept prices in check

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India Metals, Mining Q3 Results Preview - Mining Companies To Outperform Primary Steel Producers: Systematix

India turns net importer of steel with rise in Chinese imports which has also kept prices in check

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