Domestic steel mills may benefit from lower iron ore and coking coal costs in the current year but sustained weakness in demand still remains a concern, Icra said on Tuesday.
The ratings agency in a report said, “Sustained demand weakness remains a concern for the domestic steel industry with a growth of mere 4.6 per cent and 2.6 per cent in FY2016 and FY2017 respectively due to sluggishness in key end-user industries.
“Weak demand conditions have led to a correction in domestic hot rolled coil (HRC) prices by seven per cent in May 2017.” Read more
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