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India's steel demand is expected to grow between 9-12% during the ongoing 2024-25 fiscal, as per a report by India Ratings and Research (Ind-Ra). The stable growth in the end-user industries, such as the automobile and infrastructure sectors, will support the demand, said the rating agency.
In global demand, raw material and finished goods prices are anticipated to be range-bound on a moderate recovery.
"Domestic players are likely to see stable credit metrics, due to higher profitability and improved operating cash flows amid debt-led capex," Rohit Sadaka, Director and Head, Materials and Diversified Industrials at Ind-Ra, said.
Due to China's transition to low carbon initiatives and moderate demand from the European Union (EU), but supported by growth in emerging economies such as India, the global steel demand is expected to be stable, the agency further added.
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