Steel sector growth to slow down to 4% this year: Crisil
Sales realisations will shrink 5-6% this fiscal, according to the rating agency
This will be a drag on the sector’s aggregate operating profit, which is expected to fall 12-13% in fiscal 2020
Mumbai: After a robust 7.5-8% growth in the last two fiscals, the domestic steel industry is expected to witness a mid-cycle slowdown to 4-5% this fiscal, according credit rating agency Crisil. The agency has attributed the growth slowdown to muted construction investment and weak automotive market.