02
Dec
15:05
Costly coking coal, demonetisation seen pressuring Indian steelmakers
India’s steel industry operating margins are likely to remain lower in the second fiscal half year through March 2017 (FYH2) than in the quarter through June 2016 (FQ1). This is due to a steeper rise in coking coal prices than in steel sales prices, coupled with weaker demand resulting from the rupee demonetisation initiated last month, according to credit rating agency ICRA.
Aided by higher realisations following the introduction of minimum import prices,…
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Anonymous
Very good overview of the weekly steel market.
Anonymous