BackChart of the day | Steel sector falters
Steel demand and production fell sharply in the second quarter of the fiscal
--621x414.jpg "Graphic: Ahmed Raza Khan/Mint (Ahmed Raza Khan/Mint)")
Premium(Ahmed Raza Khan/Mint)
Steel demand in the first half of 2012-13 rose by 5.4% but slipped significantly in the second quarter compared with the first quarter, when it rose by 8.8%. The slowdown seen in major steel consuming sectors such as automobiles and real estate appear to have affected consumption. Steel production, too, fell sharply as the large makers of the alloy cut production. It was one reason why domestic prices were relatively more stable than in international markets. Imports have been filling the gap between production and demand, while exports grew at a slow pace in the first half of the financial year.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
