July 8, Steel plants in India are runnning at a 50-60 % capacity due to various reasons, some of them are
1. Weak Demand: Demand has been poor all over the country mainly because of rainy season.
2.Expensive Raw Materials: Iron ore and Coal prices have been high for quite some time said one of the manufacturers based in Chattisgarh.
More over NDMC has raised its ore prices for July quarter.
3.Global steel prices: Steel prices in China are dipping for past 6 weeks, demand has been weak, more over government policies such as
removal of export tax rebate and tightening monetary policy has made it difficult for Chinese steel mills to opearte in short run.
Reported by Richa Sharma (richa@steelmint.com)
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