Steel sector outlook to remain negative in next fiscal: Reports 15/05/2017

Steel sector outlook to remain negative in next fiscal: Reports
15/05/2017

A report has said that the outlook for steel sector is likely to remain negative in next fiscal due to continued operational and financial challenges and lower demand from the realty sector.
Commenting on the issue, an Ind-Ra Official told the media, "The regulatory support and increased government spending remain crucial for maintaining the profitability of steel producers in fiscal 2018. But the muted demand growth of 4-5 per cent and overcapacity leading to low capacity utilisation which limits companies' ability to fully pass on volatility in input prices, are likely to keep cash flows and profitability under pressure."
“The demand growth will remain muted at 4-5 per cent in FY18, and is likely to be driven by demand growth from key end-user industries such as construction, capital goods and consumer durables. An increased government spending due to budget push on infrastructure and housing may support demand,” he added.

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