Carbon Steel

Steel is an alloy comprising of predominantly iron and carbon. Due to its high tensile strength and low cost, it is a major component used in buildings, machines, appliances,infrastructure, tools, ships, automobiles etc.

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Category Alerts


Aludium enters into Low Carbon Aluminium market

December 01, 2022
alert level: Low

China's BF capacity utilization reaches a 22- month high

April 19, 2023
alert level: Medium

Indian Steel Association seeks import duties on steel

April 13, 2023
alert level: Medium

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Carbon Steel Industry Benchmarks

Savings Achieved

(in %)

The average annual savings achieved in Carbon Steel category is 4.80%

Payment Terms

(in days)

The industry average payment terms in Carbon Steel category for the current quarter is 48.8 days

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    Carbon Steel market report transcript

    Carbon Steel Market Analysis and Global Outlook

    • Expected increase in downstream demand to 1,850 MMT by 2024. The decarbonization drive in the steel industry is expected to cause a shift in the feedstock markets requirements as well

    • The Chinese government is keen on reduction of its production levels, in line with their initiatives to reduce carbon emissions and go carbon neutral by 2060. In addition, uncertain trade landscape, tariffs, and export duties are likely to promote volatility in the steel markets


    Steel Market Overview - Global

    • The steel production market is expected to grow at a moderate 2-3 percent CAGR during 2022–2025

    • In 2022, the supply chains were highly disrupted, due to the onset of the Russia-Ukraine war in H1 2022. Although the disruption levels have reduced in H2 2022, the negative macroeconomic sentiments still remain. For 2023, the outlook is highly uncertain on rising inflation, and the possibility of a recession, constraints to energy supplies, etc.

    Global Steel Drivers and Constraints


    Downstream Demand 

    • The passing of the CHIPS Act in the US will promote greater investment in domestic semiconductor manufacturing, so that the microchips that are necessary for many essential products will be made locally in the US rather than being imported from overseas. This is expected to address the chip supply challenges faced by US automakers, and boost the steel demand from the sector as we head further into 2023

    Need for Cost Reduction

    • Increased focus on reducing the total cost of ownership of the steel-making process has led to:

    −The adoption of new technologies

    −Use of more energy-efficient fabrication, manufacturing process

    Technological Advancements

    • Development of new technologies is driven by the need to attain low cycle time and decarbonization of the manufacturing process

    • Suppliers in emerging economies are rapidly adopting technologies, in order to improve efficiency and increase production capacity


    India’s steel export tariffs

    • The Indian government had removed export duties on steel products and iron ore which was initially imposed in late-May last year. Export duties on nine steel products with HS code 7201, 7208, 7209, 7210, 7213, 7214, 7219, 7222 and 7227 will attract nil duty compared with the 15 % levied earlier.

    Profit Margins

    • Steelmakers in China, at present, are facing low profit margins, due to the COVID outbreak, suppressing the demand in the country in the recent months

    Logistics Cost

    • Steel and its products have high logistics cost. The Baltic Dry Index acts as an indicator of measuring logistic costs of dry bulk category, such as steel. Increased logistics cost impacts the import of raw material and increases the domestic and landing cost of steel, exporting nations

    Cost Structure Analysis : Carbon Steel

    • Iron ore, coking coal, ferrous scrap, nickel, and other alloys are the key raw materials in manufacturing of steel. It accounts for more than 60 percent of the total manufacturing cost globally

    • Steel prices are highly co-related with raw material prices, such as iron ore, ferrous scrap, and nickel prices

    • In order to mitigate price fluctuation, end user should enter in short to medium-term contracts with steel makers

    • Raw material is the key cost driver that constitutes approx. 64–75 percent of the production cost

    • Based on demand, end-use industries should have short-term contracts with steel makers to avoid the price fluctuation risk

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