T.V. Narendran, CEO of Tata Steel and MD, in an interview with ETNOW, answering the question, “Are you also concerned about the rise in iron ore prices, both domestically and globally? Also, the fact that this is not accompanied by a simultaneous rise in steel prices? "
Said, “In the last few months, the spreads have been spreads because gold prices stayed in the $ 200 range and iron ore prices crossed $ 100 after a long time. So the spreads were tight. This is why steel prices did not rise immediately when iron ore prices rose, but we have reached a stage where costs are definitely putting pressure on steelmakers. It certainly hurts us more in Europe.
In India we have our own iron ore mining, but even in India we buy from the market because we consume more than we produce. So it has an impact on Tata Steel, but it also puts pressure on steel prices, which have been somewhat soft over the past couple of months. ”
He said: “We have reached a level where steelmakers will not be able to manage a lower steel price and will wait for price increases because raw material costs remain fairly high. This concern may be a little less for Tata Steel, given that we are fully integrated, but it affects us, as, for example, in Europe and at Bhushan Steel: where we buy a lot of iron ore. "
Recovery in steel prices is needed to offset high raw material prices
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Azovpromstal® 18 June 2019 г. 15:23 |
