Indian steel sector, which has been reeling under severe pressure due to production losses amid COVID-19 lockdown, is beginning to see the light at the end of the tunnel.
Amukha’s analysis of news data for Indian steel sector has shown an improvement in positive news flow in four major categories – product pricing, production, earnings and imports/ exports in September 2020.
A surge in positive news flow under product pricing led to further improvement in the category sentiment for September 2020. In addition, production and imports/ exports categories have also seen improvement in the category sentiment.
Some of the steel sector news items, which pushed the sentiment higher in Sep-20, have been highlighted below:
2-Sep-20: Steel companies likely to announce price hikes in steel products
2-Sep-20: Steel under spotlight as price inches towards pre-Covid level
4-Sep-20: Fall in coking coal price to boost steel companies’ profit
5-Sep-20: Steelmaking costs to come down by $35/mt in Q2 of FY21, operating margins to improve by 5-6%: Icra
11-Sep-20: Indian Steel Mills Recorded Boosted Sales in August
14-Sep-20: Steel cos hike prices by ₹2,500 a tonne as demand revives in September
15-Sep-20: Steel prices to keep rising on industrial rebound; margins soft
16-Sep-20: Steel Price Hikes Signal More Supply Squeeze than Demand Surge
Unstructured data sets such as News is the first credible source of information that can offer insights into both the present and future prospects of the sectors and the companies. The application of news data in the risk assessment can help in capturing important events and red-flags for both the sectors and the portfolio companies.
Through the analysis of news, Amukha’s RAS can help the banks to identify the best and the worst performing sectors ahead of time and thereby help them in rebalancing the sector allocation.
To know more about RAS, email us at info@amukha.com.
AMUKHA 