Steel tycoon banks on exports as demand plunges in India
Saturday, September 14, 2019, 10:25 AM
India's most valuable steel producer is looking outward as the slowest economic expansion in six years cuts demand in the South Asian country and puts pressure on margins. JSW Steel Ltd. expects to exceed its export target of 2.2-million to 2.4-million-tons for the fiscal year "after having seen the slowdown in the domestic demand," Joint Managing Director Seshagiri Rao said in an interview.
Metal stocks in India battered by weak earnings, demand woes
Monday, July 29, 2019, 8:15 PM
Metal companies in India headed for the lowest close in more than two years after major producers reported weak quarterly earnings amid growing worries about a slowdown in demand in Asia's third-biggest economy. The slowdown in consumption and in the automobile sector amid issues such as elevated debt "are keeping a temporary lid" on metal stocks.