High cost of production delays recovery of secondary steel companies
SECTIONS
Share
Synopsis
CARE reported that India’s top six integrated steel producers (ISPs) together produced 5.9 mt of crude steel out of the total 9.2 mt in November, up 7.5% on year. By contrast, the output at smaller players fell 6%.
Agencies
Integrated steel players said that the situation is likely to turn around in a couple of months.
MUMBAI: Steel prices are rising, but the responses of primary and secondary makers of the alloy to the defining price movements are markedly different. Big, integrated players have reported a quicker return to normalcy, but weaker financials, limited product range and higher costs have combined to delay the recovery for secondary steel companies.