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Amid global worries, domestic demand some cushion for metal companies

Sequentially, margins are expected to contract in the first quarter (Q1) of 2023-24 financial year (FY24) versus Q4 FY23

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(Photo: Bloomberg)

Devangshu Datta

3 min read Last Updated : Jul 20 2023 | 10:31 PM IST

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The metals markets have seen turmoil since the Ukraine War started in February 2022. Initially, the fear of supply disruption led to a spike in prices, then prices moderated quite substantially as demand slid on global economic weakness. While global weakness continues, the worry now is China, where rolling lockdowns have been followed by slower growth and deflation.

Domestic demand was hit to some extent by seasonal weakness but it is expected to recover as the infrastructure component of the Budget kicks in. Global growth is showing continued weakness and China remains a question mark: Will the People’s Bank of

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