Fall in steel prices may impact profitability of domestic producers: CRISIL

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Fall in steel prices may impact profitability of domestic producers: CRISIL - Business Standard

Quick Summary:

"Lower realisations and flat operating margin will likely drag absolute Ebitda for primary steelmakers 5-7 per cent lower this fiscal, at a time of substantial growth capex," Crisil Ratings Director Ankit Hakhu said.

Domestic steel prices are likely to drop 10 per cent on average this fiscal from Rs 57,500 per tonne last fiscal.

The first half of this fiscal has already seen average domestic steel prices fall eight per cent from last fiscal's average.