Mumbai : High raw material prices and low demand from key end-users in the auto segment will continue to impact steelmakers like JSW Steel. A decline in steel prices in October 2019 and reset of half yearly automotive contracts at lower levels would impact the quarter, it added. Steel realizations bottomed out at the end of October with price hikes of ₹750/tonne and ₹1,000/ tonne taken in November and December 2019 respectively. Recovery in domestic steel demand in 4QFY20 would enable the company to undertake further price hikes with current domestic steel prices at a discount to landed import parity Chinese prices. Share ViaTopics JSW Steel

Source: Mint January 24, 2020 04:30 UTC