India's domestic steel consumption growth predicted to drop to 7-8% in FY2024-2025, according to ICRA.
India's domestic steel consumption growth is predicted to drop to 7-8% in the upcoming fiscal year from an estimated 12-13% this year, according to ICRA. Elevated input costs, import pressures, and softer steel prices are expected to squeeze operating profit margins for the steel industry by 110-115 basis points in FY2025. The domestic steel consumption could decelerate to 7-8% in FY2024-2025 after three consecutive years of double-digit growth.
March 07, 2024
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