Cheaper steel imports amid weak demand a challenge to Indian mfg

摘要

ICRA expects the surge in cheaper imports to continue to exert pressures on domestic steel prices, especially since the near term outlook on steel demand growth in the country remains muted. Whereas steel exports shrank by 8.1% in 2014-15 (FY15), imports surged by almost 71% due to a sharper fall in international steel prices than domestic prices, leading to a widening gap between price levels.