There is nothing to cheer for Indian steel industry as high raw material prices, poor demand and liquidity crunch have weighed on margins for steel players in big way.Most of small and medium units are either closed or operating at very low capacity. Quite a lot have also put their mill on sale.
“Current market situation is very tough for small and medium steel units in India to survive. Most of them have already wiped out of the market and many others will also shut their shop soon. There are no Government policies on secured supply of iron ore and coal to us.” said a steel manufacturer based in Rourkela, Odisha.
Leave a Reply