Quote on Steel sector: India`s finished steel export slumped 55% Says Antu Thomas, Geojit Financial Services
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Below View on Steel sector 15 December 2022 By Antu Thomas, Senior Research analyst at Geojit Financial Services.
"The government's decision to cut export duty and China’s ease in Covid restrictions will provide impetus to the domestic steel players to tap the opportunity in the export market. However, we believe that the impact will be neutral in the short to medium term, as rising concerns about global growth slowdown will impact the sector. On the domestic front, India’s finished steel export slumped 55% during April to November period due to weak global demand. We remain cautious in the short to medium term."
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