Rise in input cost, fall in price may hit steel cos; Q1 profits

摘要

Steel companies' profits in the first quarter of this fiscal may be hit by the steep rise in input cost coupled with a sharp fall in product prices. This has resulted from a slowdown in demand and large-scale imports. Hot rolled coil (HRC) prices have dropped by about five per cent to 32,700 rupees a tonne month-on-month as on June 12. Another five per cent discount is being offered to bulk buyers, say market sources. The current prices are just two per cent higher than the same period a year ago.