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Weak demand, drop in prices may keep steel sector Q2 performance muted

Steel players have tried to make up for the poor sales by increasing export volumes

Aditi Divekar  |  Mumbai 

With domestic steel prices having slipped significantly in the September quarter on the back of dull demand for the commodity, primary producers of the alloy are expected to take a hit on their margins in Q2 results.

Domestic hot-rolled-coil price has fallen below Rs 35,000 a tonne for the first time since August 2016, said industry officials. “Domestic steel consumption declined by 0.2 per cent year-on-year (YoY) in September as against H1FY20 demand growth of 5 per cent YoY. Persistent slowdown in end-use sectors like automotive, capital goods, and construction (faced with ...

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First Published: Mon, October 21 2019. 22:27 IST
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