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Expect challenging times ahead for India steel players: ICRA
The sharp rise in international coking coal prices besides an almost stagnant steel demand pose challenging times ahead for the domestic steel players, ratings agency ICRA said today. Domestic steel demand remained largely stagnant in Q1 2016-17, with consumption growing by just 0.4 per cent year-on-year (y-o-y) during this period, ICRA said in a statement. Cost pressures amidst weak demand signal challenging times ahead for domestic steel players, it added.
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