Industry News

Steel players’ operating profit to decline 20-30% in FY21: India Ratings

Views : 291
Update time : 2020-06-02 22:35:43

As construction activities were impacted due to the extended lockdown, onset of monsoon and mass migration of labourers, operating profit or EBITDA of steel producers is expected to decline by 20-30 per cent in the current fiscal due to lower demand and price realisation, India Ratings (IndRa) has said.

The agency has already predicted a 10-15 per cent reduction in steel demand for the current fiscal, mainly due to the slowdown in economy, decline in auto sector and the impact of COVID-19 pandemic on construction activities.

Related News
Read More >>
Olympic Steel acquires Metal Works in all-cash deal to expand products & processing portfolio Olympic Steel acquires Metal Works in all-cash deal to expand products & processing portfolio
Nov .14.2024
Olympic Steel acquires Metal Works in all-cash deal to expand products & processing portfolio
Improved steel transactions & Chinese Yuan rebound cause iron ore slight increase on Nov 13 Improved steel transactions & Chinese Yuan rebound cause iron ore slight increase on Nov 13
Nov .14.2024
Improved steel transactions & Chinese Yuan rebound cause iron ore slight increase on Nov 13
Constellium achieves industrial-scale sorting of automotive aluminum scrap using LIBS technology Constellium achieves industrial-scale sorting of automotive aluminum scrap using LIBS technology
Nov .14.2024
Constellium achieves industrial-scale sorting of automotive aluminum scrap using LIBS technology
Nigeria signs $1.2 billion contract to revive gas plants needed for aluminum industry Nigeria signs $1.2 billion contract to revive gas plants needed for aluminum industry
Nov .14.2024
Nigeria signs $1.2 billion contract to revive gas plants needed for aluminum industry