Care Ratings: Indian Steel Industry On Recovery Path
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Care Ratings Research Report
Indian steel industry has staged strong recovery in the last few months on the back of improving domestic demand.
Steel consumption grew by 96% in September quarter compared to June quarter.
Production of crude steel rose by 59% QoQ in Q2 FY21. The industry also managed to significantly lower the YoY fall in Q2 FY21, signalling return of normalcy in the sector.
Crude steel production fell by just 7% YoY in the September quarter, compared to 43% YoY fall in the June quarter.
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