Steel output recovered at slow pace in June

By: |
August 3, 2020 5:30 AM

Domestic steel demand is expected to recover only post monsoon led by an improvement in infrastructure activities and expectation of an increase in automobile production, CARE Ratings has said.

This is likely to keep steel prices in check, at least till the September 2020 quarter.

While production of crude and finished steel went up to 6.8 mt and 5.9 mt, respectively, in June 2020, the numbers were lower by 27.2% and 33.3% y-o-y. Consumption too, while improving, was down 40.8% y-o-y in the month.

Domestic steel demand is expected to recover only post monsoon led by an improvement in infrastructure activities and expectation of an increase in automobile production, CARE Ratings has said. This is likely to keep steel prices in check, at least till the September 2020 quarter.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Fin-techs see spike in delinquent accounts after Covid-19 pandemic
2Handset makers: Govt not keen to roll over PLI scheme milestones
3Adjusted gross revenue of telcos rises 3.58% to Rs 45,707 crore Q-o-Q