ICRA revises steel industry outlook to negative, estimates demand fall of 20% in FY21

摘要

Rating agency ICRA has revised steel industry outlook to negative from stable as back-toback extensions of lockdown is likely to result in a severe steel demand slowdown which is estimated to fall by 20% in FY21, ICRA said in a statement on Tuesday. “The first half of FY 2021 is expected to be challenging for steelmakers. Many buyers could prefer to sit at the sidelines, given the uncertain demand environment and liquidity pangs of steel consumers, amid dwindling sales and fixed cost obligations,” said ICRA’s senior vice-president, Jayanta Roy.