Resumen de IREFCON 2016: : India's steel sector risks losing out to Chinese imports
Sector forecasters have halved growth projections for India's domestic steel industry, from 6% to 3% in 2016 and Indian steel companies are reportedly booking losses of around Indian rupee (INR) 3,000-4,000/tonne ($44-$59/tonne*) of steel produced. Many are also selling steel at below production costs, thanks largely to high input prices for raw materials, energy and freight and logistics costs.
India's IFGL Refractories Ltd reported a consolidated profit of Indian rupee (INR) 1,069 lakh ($1.57m) for the December 2015 quarter, down 15% from INR 1,253 lakh ($1.84m) in the corresponding period in 2014.
Orient's profits for the January to December period, the first nine months of the Indian financial year, were INR 3,950 lakh ($5.833), stable with the INR 3,994 lakh ($5.898m) recorded in the same period in 2014.
