 "steel")
India Ratings and Research (Ind-Ra) has revised its outlook on the domestic steel sector to negative for 2020-21 (FY21) from stable, given the modest steel demand growth expectations of 5 per cent (FY20: 4 per cent estimate) and margin pressures, led by iron ore price risks.
High iron ore premiums for new mine owners (both captive and merchant) could shift the cost positions of steel mills, it said.
The slowing economic activity as reflected in Ind-Ra’s GDP estimates of 5 per cent and 5.5 per cent for FY20 and FY21, respectively, would continue to affect demand growth in the steel sector and
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