黑色金属周报：印度和中国钢材价格反弹

Core Insights - The report highlights a rebound in steel prices in India and China, with domestic hot-rolled coil prices in India rising to ₹48,600 per ton, an increase of ₹1,600 per ton from the previous week [2] - The report emphasizes strong domestic steel demand in India, driven by positive trends in key sectors such as real estate, infrastructure, and automotive [2] - The report notes that the price trends dominated by China are a critical monitoring direction for the Indian steel industry [2] Steel Prices - Domestic hot-rolled coil prices in India are reported at ₹48,600 per ton, up by ₹1,600 per ton week-on-week, while rebar prices in Mumbai increased to ₹52,400 per ton, up by ₹1,900 per ton [2] - The domestic raw material costs have risen by 2% week-on-week, with iron ore prices increasing by 6% [2] Price Differentials - The domestic price differential has increased by $10 per ton week-on-week, with hot-rolled coil prices leading the charge with a 3% increase [2] Related Reports - The report references related analyses, including a preview of India's steel sector for Q2 FY25 and weekly updates on ferrous prices [1] Company Performance - Tata Steel's domestic production for Q2 FY25 is reported at 5.27 million tons, reflecting a 5% year-on-year increase [9] - The report provides insights into the market capitalization and performance metrics of key companies in the sector, such as Tata Steel and JSW Steel, indicating varying performance across different time frames [37] International Context - The report discusses the significant improvement in China's hot-rolled coil price differential, which increased by $46 per ton week-on-week, driven by a 14% rise in hot-rolled coil prices [3] - It also highlights the global steel price trends, with Indian offshore prices at $560 per ton, while Chinese offshore prices are at $510 per ton, reflecting a 6% decrease [3] Strategic Developments - The report mentions a memorandum of understanding between the Steel Authority of India and BHP to explore low-emission steel production strategies, indicating a shift towards sustainable practices in the industry [7] - It notes the increasing protectionist measures in various countries, including India considering raising steel import tariffs from 7.5% to 12% [8]