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Monthly Report June 2021

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Monthly Report June 2021 Page 1 Steel Update - June 2021 J. M. Baxi & Company MONTHLY REPORT STEEL JUNE 2021 Page 2 Steel Update - June 2021 J. M. Baxi & Company TABLE OF CONTENT PORT ANALYSIS STEEL TRAFFIC AT INDIAN PORTS (QTY IN METRIC TONNES) 3 COUNTRY-WISE STEEL IMPORTS TO INDIA MAY - 21 (QTY IN METRIC TONNES) 4 COUNTRY-WISE STEEL EXPORTS FROM INDIA MAY - 21 (QTY IN MT) 4 MAJOR STEEL IMPORTERS MAY - 21 (QTY IN MT) 5 MAJOR STEEL EXPORTERS (QTY IN METRIC TONNES) 6 MARKET OVERVIEW AND TRENDS JSW Group amalgamates large prOject divisions of sTeel & cement businesses 7 ArcelorMittal Nippon STeel charts out 5-millon-tONNE Expansion in 3 yearS 8 Iron orE ExporT To China desTabilises sTeel production in India 10 STeel exports musT CONTINUE TO SUSTain production 12 Page 3 Steel Update - June 2021 J. M. Baxi & Company PORT ANALYSIS STEEL TRAFFIC AT INDIAN PORTS (Qty in METRIC TONNES) PORT APR-21 APR-20 VARIANCE CHENNAI 85780 95370 -9590 COCHIN 10659 94 10565 DAHEJ 20920 14566 6353 DHAMRA 47616 54424 -6807 ENNORE 41469 25027 16442 GANGAVARAM 150000 61000 89000 HALDIA 34573 68193 -33620 HAZIRA 71000 0 71000 KANDLA 88654 123894 -35240 KATTUPALLI 6300 0 6300 MANGALORE 14271 3950 10321 MORMUGAO 107653 114264 -6611 MUMBAI 245125 182638 62487 MUNDRA 45219 79532 -34313 PARADIP 269775 241325 28450 VISAKHAPATNAM 60200 66200 -6000 GRAND TOTAL 1299214 1163221 135993 Page 4 Steel Update - June 2021 J. M. Baxi & Company COUNTRY-WISE STEEL IMPORTS TO INDIA MAY - 21 (QTY IN METRIC TONNES) (QTY IN METRIC COUNTRY TONNES) CHINA 15076 INDONESIA 9567 ITALY 682 JAPAN 9938 SAUDI ARABIA 148 SOUTH KOREA 44208 TAIWAN 14361 U.A.E. 23956 UNITED KINGDOM 7000 UNITED STATES 13371 COUNTRY-WISE STEEL EXPORTS FROM INDIA - MAY - 21 (QTY IN MT) (QTY IN METRIC COUNTRY TONNES) BELGIUM 80000 CHINA 90700 HONG KONG 29470 ITALY 156932 MALAYSIA 52677 MEXICO 30000 PHILIPPINES 26500 POLAND 14071 SAUDI ARABIA 4482 SINGAPORE 93500 SPAIN 4438 SRI LANKA 57300 TAIWAN 10000 TURKEY 24929 U.A.E. 6400 UNITED STATES 845 VIETNAM 80500 Page 5 Steel Update - June 2021 J. M. Baxi & Company MAJOR STEEL IMPORTERS MAY - 21 (QTY IN MT) (QTY IN METRIC IMPORTER TONNES) JINDAL SAW LTD. 41348 ESSAR STEEL INDIA LTD. 27762 ARCELOR MITTAL NIPPON STEEL INDIA LTD. 17336 CHINA STEEL CORPN. INDIA PVT. LTD. 14361 JINDAL STEEL AND POWER LTD. 7035 MARUTI SUZUKI INDIA LTD. 4042 TUBE INVESTMENT OF INDIA LTD. 3123 DMSONS AND METAL PVT. LTD. 2684 SAFI TRADERS 2409 WIRTGEN INDIA PVT. LTD.44 2009 VINAYAGA MARINE PETRO 1555 JFE SHOJI STEEL INDIA PVT. LTD. 1317 INTEGRAL INDUS. PVT. LTD. 1032 SKM IMPEX CO. LTD. 1000 TATA MOTORS LTD. 821 SATO SHOJI INDIA PVT. LTD. 815 INDUSTRIAL METALS 485 METAL ORE LTD. 458 POSCO INDIA DELHI STEEL PROCESSING CENTRE LTD. 443 ASHOK LEYLAND LTD. 357 Page 6 Steel Update - June 2021 J. M. Baxi & Company MAJOR STEEL EXPORTERS MAY - 21 (QTY IN METRIC TONNES) (QTY IN METRIC EXPORTER TONNES) ARCELOR MITTAL NIPPON STEEL INDIA LTD. 127000 ASIAN COLOUR COATED ISPAT LTD. 15605 BHUSAN POWER & STEEL LTD. 63500 INDIANA GRATINGS PVT. LTD. 410 ISMT LTD. 297 JINDAL SAW LTD. 4620 JINDAL STEEL AND POWER LTD. 123478 JINDAL STEEL INDIA PVT. LTD. 21000 JINDAL STEEL WORKS LTD. 284827 JSW STEEL COATED PRODUCT LTD. 24418 JSW STEEL LTD. 25500 KREDENCE MULTI TRADING LTD. 4438 RASHTRIYA ISPAT NIGAM LTD. 80000 STEEL AUTHORITY OF INDIA LTD. 32100 TATA STEEL BSL LTD. 20000 TATA STEEL LTD. 151885 TURAKHIA INTL. PVT. LTD. 965 VEDANTA ALUMINIUM LTD. 54929 Page 7 Steel Update - June 2021 J. M. Baxi & Company JSW GROUP AMALGAMATES LARGE The $12 billion JSW Group will now have a single group interface for all its PROJECT DIVISIONS large project divisions in the steel and OF STEEL & CEMENT cement businesses. BUSINESSES Following the successful integration of its retail trade across Steel and Cement into JSW One in the East, the $12 billion JSW Group will now have a single group interface for all its Large Project divisions in the Steel and Cement businesses. The Indian conglomerate has created Aikyam, a technology platform where details can be accessed by the Managers of Large Project Divisions from both these businesses to capitalize on the potential opportunities. Aikyam will digitize the end-to-end institutional sales processes at JSW Group by integrating data across the two business entities to create a single 360 degree view of the large project customers. This will enable its group of Client Managers to elevate their interactions with large clients and identify opportunities to cross sell, thereby offering an enhanced customer experience to these clients, the company said in a statement. Commenting on the integrated offering for Large project Businesses, Parth Jindal, Director of JSW One said, “JSW Group has the unique advantage of providing an integrated offering to its large customers in the Infrastructure & Building industries space. We have leveraged the JSW One advantage for our retail customers successfully in the Eastern part of India and are now extending it to our Large Project clientele through our Aikyam initiative. “I expect Aikyam to fundamentally change the way JSW works with its large clients, while ensuring that our relationships continue to get stronger through a single Group interface, bolstered by strong internal collaboration. In the near future we plan to offer other group products such as paints, construction chemicals, RMC and many others to our large institutional customers through the Aikyam interface.” The Aikyam integration is expected to unlock opportunities for the Steel and Cement businesses of JSW Group across key States of Maharashtra, Gujarat, Karnataka, Telangana & Andhra Pradesh. It is expected to unlock new demand for JSW Steel and JSW Cement as well as other group companies going forward. The Group has already onboarded MMRDA, MHADA, MCGM, DMRC, Afcons Infra, BG Shirke, CapaciteInfraprojects, DilipBuildcon, ITD Cementation, J Kumar Infra, JMC Projects, L&T, L&W, Navayuga Engineering, NCC, Rajapushpa Realty, Shapoorji Pallonji & SNC during the pilot run of the integrated service. Source: Business Standard Page 8 Steel Update - June 2021 J. M. Baxi & Company ARCELORMITTAL NIPPON STEEL CHARTS The two phases of expansion at Hazira, Gujarat, along with OUT 5-MILLON-TONNE downstream, are expected to cost EXPANSION IN 3 YEARS Rs 50,000 crore ArcelorMittal Nippon Steel India’s play in the steel market is set to get bigger. The company is busy making plans that would increase its capacity by five million tonnes in the next three years while laying building blocks for the phase after. Dilip Oommen chief executive officer ArcelorMittal Nippon Steel India (AM/NS India), said the groundbreaking for the expansion to 14 million tonnes was expected this year. “In the next phase, we will take it up to 18 million tonnes,” he added. The two phases of expansion at Hazira, Gujarat, along with downstream, are expected to cost about Rs 50,000 crore. Hazira has a capacity of about 9 million tonnes. For the expansion at Hazira from 9 to 14 million tonnes, AM/NS India has land. Acquisition of land for the second phase is underway. “We have made very good progress with the Gujarat government,” said Oommen. However, he pointed out that logistics would have to be in place for the second phase. That would entail enhancing port facilities, getting the railway line into the plant and improving road logistics. “Lot of work has already started,” he said. The first phase would be completed in three years. For the second phase, AM/NS India has an option of taking up Hazira or starting construction of a new plant in Odisha. “We will have to decide appropriately. There are many options and we will have to select the right option,” explained Oommen. In March, AM/NS India had signed an MoU for a 12-million tonne integrated steel plant at an investment of Rs 50,000 crore, in the presence of ArcelorMittal executive chairman Lakshmi Mittal and Odisha Chief Minister Naveen Patnaik. Oommen said, “In Odisha, we are in active discussions with the government for setting up a 12 million tonne plant. We have specialists from all streams working on this right now and land acquisition process is on.” Even as the major growth plans are being charted, an investment of Rs 14,500 crore is underway at Hazira and Odisha. Growth plans would also entail inorganic opportunities. AM/NS India has submitted an expression of interest for Neelachal Ispat Nigam Ltd (NINL), which is being privatized by the government. “We are open to all opportunities that may come up in the future. We are very Page 9 Steel Update - June 2021 J. M. Baxi & Company closely studying opportunities and we will participate,” said Oommen. Clearly, the joint venture of world’s leading steel companies – ArcelorMittal and Nippon Steel – is betting big on India. The companies jointly acquired Essar Steel under the insolvency code for Rs 42,000 crore in 2019. Last week, AM Mining India’s resolution plan for Uttam Galva Steels – a downstream unit – was approved by the committee of creditors and the resolution plan has been filed with the National Company Law Tribunal (NCLT). Oommen said that there could be mothballed assets in the plant that need to be put back on line. “The plant has done well, but there is scope for improvement and potential for capacity to go up,” he explained. The last one year has worked out well for steel companies as demand improved and prices surged. All major domestic steel producers are restarting expansion plans and by FY24, 29 million tonnes of additional capacity is expected to go onstream, excluding AM/NS India’s expansion. Oommen, however, reminded that steel was a cyclical industry.
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