Steel demand is set to rise by 9-12% in FY25: Ind-Ra report
Steel

Steel demand is set to rise by 9-12% in FY25: Ind-Ra report

According to India Ratings and Research, the demand for steel is anticipated to increase by 9-12% during the current fiscal year, 2024-25 (Ind-Ra). The rating agency stated in a study that consistent development in end-user industries, including the automotive and infrastructure sectors, will underpin the demand. According to the agency, the rise in steel demand for FY25 is expected to be between 9 and 12 percent annually. "On a moderate recovery in global demand, raw material and finished goods prices are expected to be range-bound."

Rohit Sadaka, Director and Head of Materials and Diversified Industrials at Ind-Ra, stated that domestic players were expected to witness stable credit metrics. He attributed this to higher profitability and improved operating cash flows resulting from debt-led capex. The agency also expressed its anticipation of steady global steel demand, albeit with some moderation in China's demand due to its transition to low-carbon initiatives. Additionally, they noted moderate demand from the European Union (EU) but highlighted support from growth in emerging economies such as India.

According to India Ratings and Research, the demand for steel is anticipated to increase by 9-12% during the current fiscal year, 2024-25 (Ind-Ra). The rating agency stated in a study that consistent development in end-user industries, including the automotive and infrastructure sectors, will underpin the demand. According to the agency, the rise in steel demand for FY25 is expected to be between 9 and 12 percent annually. On a moderate recovery in global demand, raw material and finished goods prices are expected to be range-bound. Rohit Sadaka, Director and Head of Materials and Diversified Industrials at Ind-Ra, stated that domestic players were expected to witness stable credit metrics. He attributed this to higher profitability and improved operating cash flows resulting from debt-led capex. The agency also expressed its anticipation of steady global steel demand, albeit with some moderation in China's demand due to its transition to low-carbon initiatives. Additionally, they noted moderate demand from the European Union (EU) but highlighted support from growth in emerging economies such as India.

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