India will be the brightest player in the global steel sector over the next 12-18 months, according to Moody's Investors Service. In a statement, Moody's said that steel consumption in India is growing at least 5.5% to 6% annually, tracking strong GDP growth of 7.3% to 7.5%.
“Nominated Indian steelmakers have limited exposure to the US. We estimate that their indirect impact may also be limited, as most of their sales are to domestic auto and manufacturing companies, ”the statement said.
“With the minimum new steel capacity expected to be operational by 2021 in India, strong demand for steel, especially from the construction, infrastructure and automotive sectors, will support high prices for final products, even as costs increase. key resources, coking coal and iron ore. Meanwhile, consolidation of the steel sector in India will help boost capacity utilization in the industry and mitigate pressure on profitability, ”the statement said.
Tata Steel's acquisition of Bhushan Steel Ltd will help increase Tata's steel supply by more than a third.
India is the brightest player in the steel sector in the near future
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Azovpromstal® 12 September 2018 г. 12:50 |
