Fitch: Indian steel stable

Fitch Ratings said in a special report that it expects the 2010 outlook for the Indian steel sector to be stable in reflection of the improving domestic demand scenario and an industry-wide improvement in overall liquidity situation.

Fitch, however, cautioned that a large part of demand improvement is driven by the fiscal stimulus of the Indian government and the timing of phase-out of the stimuli packages.

The agency noted that with inflationary pressures likely to spread to the general economy, government policies on tackling inflation through a reduction in import duties could also have a potential impact on the fortunes of the industry in 2010.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.