Product Type: Market Research Report
Published by: CRISIL Ltd.
Published: July 2009
Product Code: R3543-246Description The global steel industry has been hard hit by the global economic slowdown, with steel production registering negative growth of 1.1 per cent. As the deceleration led to slump in demand, international steel prices fell sharply, causing significant downward revision in the contract prices of raw material. After an estimated decline of 9-10 per cent in 2009, global steel demand is expected to witness improvement in growth from 2010 to 2014. Domestic demand is likely to be relatively resilient and recover faster, and is expected to witness growth of 8-9 per cent from 2009-10 to 2013-14. However, with expectations of continued weakness in global operating rates, steel prices in the international as well as domestic markets are likely to be subdued. Accordingly, the profitability of Indian steel players will remain under pressure. However, the profitability is expected to improve marginally over 2008-09, supported by significant fall in raw material pricesTable of Contents Sections
Resilient Indian economy to support domestic steel industry amidst global economic slowdown
Executive summary
1.0 Introduction
2.0 Review
Global steel production growth turns negative in 2008
Global steel prices plummets with demand slump in second half of 2008
3.0 Global demand outlook
Steel demand to fall by 9-10 per cent in 2009-10
4.0 Domestic demand outlook
Domestic steel demand to recover faster
5.0 Cost structure and steel prices
Global steel prices to remain subdued over the next 5 years
6.0 Long steel industry
Charts
3.0 Global demand outlook
01 Demand methodology
5.0 Cost structure and steel prices
01 Price framework for commodity (steel, iron ore and coking coal)
6.0 Long steel industry
01 Structure of steel industry in India
02 Characteristics of domestic steel industry players
Figures
2.0 Review
01 Global crude steel production (1997-2008)
02 Monthly crude steel production (Jan 2008 - May 2009)
03 International steel prices (May 1995 - May 2009)
04 Finished steel consumption in India
05 Domestic steel prices (Jan 2007 - May 2009)
06 Raw material prices (Jan 2007-May 2009)
3.0 Global demand outlook
01 Global crude steel demand
02 End user consumption pattern of steel in the US in 2007 (per cent)
03 End user consumption pattern of steel in Europ
04 End user consumption pattern of steel in Japa
05 End user consumption pattern of steel in Chin
05 Motor vehicle production in China (2000-2008)
07 Fixed asset investment in real estate in China (2000-2008)
08 Global capacity addition
09 Global operating rates
4.0 Domestic demand outlook
01 Flat steel end use consumption pattern in India
02 Long steel end use consumption pattern in India
03 Demand for steel products in India
04 Performance of automobile industry in India
05 Steel making capacity: Announced & estimated capacity additions
06 Demand to capacity ratio in domestic steel industry
6.0 Long steel industry
01 Share of major players in total steel capacity
Tables
3.0 Global demand outlook
01 North America: Steel demand growth projection
02 Europe: Steel demand growth projection
03 Japan: Steel demand growth projection
04 China: Steel demand growth projection
4.0 Domestic demand outlook
01 Steel demand growth projection
02 Major gas pipelines commissioning over the next few years
03 Announced steel making capacity expansion plans
04 Domestic price forecast
5.0 Cost structure and steel prices
01 Raw material price forecast
02 Cost structure ($ per tonne)
03 Global steel price forecast
6.0 Long steel industry
01 Profitability outlook
02 Profitability of players with mines
03 Profitability of players without mines
04 Profitability of small integrated (SI) players
05 Profitability of small non-integrated (SNI) players
06 Profitability of Re-Rollers
Sections
1.0 Introduction
Types of steel products
2.0 Manufacturing process and technology
Iron ore bedding and blending
Coal bedding and blending
Steel making technologies:
New technologies
Products manufacturing process
3.0 Evolution of the steel industry
Pre-liberalisation scenario
Dawn of liberalisation in 1991
4.0 Review of steel industry (2002-03 to 2007-08)
Profitability
Demand
Prices
The raw material scenario
5.0 Player profiles
SAIL
Tata Steel
Essar Steel
Ispat Industries
JSW Steel Ltd
Rashtriya Ispat Nigam Ltd
Jindal Steel & Power Ltd
Bhushan Steel and Strips Ltd
Uttam Galva Steel Ltd
Box
1.0 Introduction
01 Properties of steel
Charts
1.0 Introduction
01 Properties added to steel by alloying elements
02 Categories of steel products
2.0 Manufacturing process and technology
01 Steel making - BF-BOF process
02 Steel making - EAF process
03 Steel making - Corex-BOF process
04 HR - Production process
05 CR - Production process
06 GP/GC - Production process
Figures
1.0 Introduction
01 Flat steel consumption pattern
02 Long steel consumption pattern
03 Production flat v/s long steel products
3.0 Evolution of the steel industry
01 Investments pos
02 Significant overcapacity in flat products
03 Decline in HR international prices
04 Imports aided by duty cuts
05 Recurring losses erode net worth
4.0 Review of steel industry (2002-03 to 2007-08)
01 Aggregate OPM & NPM
02 Imports increased to meet the domestic consumption
03 Exports drove growth in volumes
04 Domestic consumption
05 Domestic consumption and exports increases steel prices
06 HRC prices - Domestic and international
07 Increase in coke prices
08 Iron ore international prices on upswing since 2004
Tables
1.0 Introduction
01 Categories of carbon steel
3.0 Evolution of the steel industry
01 Employee productivity in 1990-91
02 Share of public and private sector
5.0 Player profiles
01 SAIL - Equity holding details of March 2009
02 SAIL - Production performance
03 SAIL - Plant-wise information on capacity and key products manufactured (2007-08)
04 SAIL - Key financial indicators
05 Tata Steel Ltd - Shareholding pattern as of March 2009
06 Tata Steel Ltd - Production performance
07 Tata Steel Ltd - Plant-wise information on capacity and key products manufactured (2007-08)
08 Tata Steel Ltd - Key financial indicators (consolidated)
09 Essar Steel - Production performance
10 Essar Steel - Plant-wise information on capacity and key products manufactured
11 Essar Steel - Key financial indicators
12 Ispat Industries Ltd - Shareholding pattern as of December, 2008
13 Ispat Industries Ltd - Production performance
14 Ispat Industries Ltd - Plant-wise information on capacity by key products manufactured (2007-08)
15 Ispat Industries Ltd - Key financial indicators
16 JSW Ltd - Shareholding pattern as of March 2009
17 JSW Ltd - Production performance
18 JSW Ltd - Plant-wise information on capacity and key products manufactured (2007-08)
19 JSW Ltd - Key financial indicators
20 RINL - Plant-wise information on capacity and key products manufactured (2007-08)
21 RINL - Key financial indicators
22 JSPL Ltd - Shareholding pattern as of March 2009
23 JSPL Ltd - Production performance
24 JSPL Ltd - Plant-wise information on capacity and key products manufactured (2007-08)
Tables
25 JSPL Ltd - Key financial indicators
26 Bhushan Steel Ltd - Shareholding pattern as of December 2008
27 Bhushan Steel Ltd - Plant-wise information on capacity and key products manufactured (2007-08)
28 Bhushan Steel Ltd - Key financial indicators
29 Uttam Galva Steel Ltd - Shareholding pattern as of March, 2009
30 Uttam Galva Steel Ltd - Plant-wise information on capacity by key products manufactured (2007-08)
31 Uttam Galva Steel Ltd - Key financial indicators
Sections
1.0 Demand
2.0 Supply
3.0 Prices
4.0 Trade and tariffs
5.0 Financial performance
6.0 Global steel industry
Charts
1.0 Demand
01 Flat products
02 CR flats
03 Coated products
04 Long products
Figures
3.0 Prices
01 HR Coils: Domestic price and Landed Cost
02 HR Coils: International prices
03 CR Coil: Domestic price and landed costs
04 CR Coils: International prices
05 GP / GC Coils: Domestic price and landed costs
06 GP/GC Coils: International prices
07 Wire rods: International prices
08 Steel billets: International prices
09 Merchant bars: International prices
10 Reinforcement bars: Domestic prices
Tables
1.0 Demand
01 Finished steel products: Apparent Consumption
02 Flat products: Apparent Consumption
03 Long products: Apparent Consumption
04 Steel products: Apparent consumption (2003-04)
05 Steel products: Apparent consumption (2004-05)
06 Steel products: Apparent consumption (2005-06)
07 Steel products: Apparent consumption (2006-07)
08 Steel products: Apparent consumption (2007-08)
09 Steel products: Apparent consumption (2008-09)
2.0 Supply
01 Share of public sector and private sector
02 Finished steel products: Production
03 Flat products: Production
04 HR flats: Producer-wise capacity
05 HR flats: Producer-wise production (includes captive consumption)
06 HR coils: Producer-wise capacity
07 HR coils: Producer-wise production
08 CR flats: Producer-wise capacity
09 CR flats: Producer-wise production (includes captive consumption)
10 GP/GC sheets: Producer-wise capacity
11 GP/GC sheets: Producer-wise production
12 Long products: Production
13 Bars and rods: Production
14 Structurals: Production
15 Railway materials: Production
4.0 Trade and tariffs
01 Finished steel products: Exports
02 Flat products: Exports
03 Long products: Exports
04 Finished steel products: Imports
05 Flat products: Imports
06 Long products: Imports
07 Steel products: Customs duty
08 Steel products: Excise duty
5.0 Financial performance
01 Industry: Cumulative financials
02 Financial performance of key players (2007-08)
6.0 Global steel industry
01 Finished steel: World apparent consumption
02 Crude steel: World production
03 World steel: Top 10 producers
04 Steel: International trade flows 2007
05 Steel: Major exporters (2007)
06 Steel: Major importers (2007)
07 Steel: Net exporters (2007)
08 Steel: Net importers (2007)
09 Steel: Largest companies in the world (2008, 2007)
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