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Steel prices improve but may face headwinds: Ind-Ra


Steel prices improve but may face headwinds: Ind-Ra
ANI |
Updated: May 29, 2021 17:51 IST
Mumbai (Maharashtra) [India], May 29 (ANI): Domestic steel consumption is likely to be low over 1Q FY22 quarter-on-quarter due to the second Covid wave but not at the low levels witnessed over 1Q FY21 when there was a complete shutdown of activities, according to India Ratings and Research (Ind-Ra).
However, Ind-Ra said the strong international prices and export demand will enable steel producers to increase export levels, although high freight and shipping costs and container availability could be the areas of concern.
India s finished steel consumption in April stood at 6.78 million tonnes, down 23 per cent month-on-month but still 8x year-on-year higher. ....

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