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Economic sentiment appears to have reached a floor and given the low inventories, particularly in Europe, as soon as real demand begins to gradually improve, apparent demand is expected to rebound, it said in a statement. The steel industry has been suffering from weaker construction activity in Europe and problems in the real estate sector in China, the world's top consumer and producer of the metal. Steel demand in Europe, which has been challenged by high inflation and tighter monetary policy, is expected to show very modest growth this year before a 5.3% projected gain in 2025, the World Steel Association said last month . ....
The Luxembourg-based company said its EBITDA increased by 34.6 percent at $1.96 billion, higher than the company's forecast of $1.81 billion. Sales in the first quarter were 11.9 percent higher at $16.3 billion compared to $14.6 billion in 4Q2023, reflecting higher average steel selling prices ....
Continued strength in demand and a potential upturn in zinc prices could help the company reap rich rewards, with Nuvama Institutional Equities expecting Ebitda to increase by 20% in FY25 and FY26. ....
U.S. President Joe Biden's push to triple tariffs on Chinese steel imports strikes a mostly symbolic blow on an industry facing bigger concerns over faltering local demand and threats of even stronger blowback against China's surging exports. The state-backed China Metallurgical Industry Planning and Research Institute (MPI) forecasts a 1.7% drop in China's steel demand this year, following a 3.3% decline in 2023. While China's steel exports last year climbed more than a third to their highest since 2016 at 90.26 million metric tons, about 9% of its total crude steel output, just 598,000 tons of the shipments went to the United States. ....
Fulfilling capex plans will require at least ₹1 trillion, with the company reportedly seeking loans exceeding $750 million. There is a lot at stake over the next five years as the company looks to scale up ....