12
Jan
14:52
Higher prices, construction ban hurt Indian consumption: ICRA
Indian steel consumption plunged to 8.73 million tonnes in December, against 10.26mt a year earlier. Higher steel prices, coupled with a construction ban in the northern states and heavy rainfall in the southern states weighed on demand, says ICRA.
According to the crediting rating agency, a marked slowdown in the pace of capital expenditure by the government has led to a fall in steel consumption. Cumulative capex in October and November were down 41.2% on-year, …
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Anonymous
Very good overview of the weekly steel market.
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