Domestic Steel Consumption Remains Strong: Motilal Oswal 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

We expect strong domestic demand and low finished steel inventory to support domestic steel prices.

India’s domestic steel consumption rose 9% YoY (3% month-on-month) to 9.97 million, the highest ever monthly consumption.

Declining exports and rising imports further indicate a strong rebound in domestic demand. Lower domestic steel inventory provides comfort on steel prices.

Domestic rebar prices, however, have come under pressure due to rising supply and softened demand in the construction segment, weighed by high prices of construction material such as cement and steel.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.