Steel demand is projected to increase by 9-12% in fiscal 2025, as per India Ratings and Research. This growth is expected to be driven by consistent expansion in end user industries, including the automobile and infrastructure sectors, the rating agency said on Tuesday.
"Raw material and finished goods prices are expected to be range-bound on a moderate recovery in global demand."
Domestic players are likely to see stable credit metrics, due to higher profitability and improved operating cash flows amid debt-led capex, said Rohit Sadaka, director and head-materials and diversified industrials at India Ratings.
The agency expects global steel demand to be steady with some moderation in China demand, due to its transition to low carbon initiatives and moderate demand from the European Union, but supported by growth in emerging economies such as India.
(With text inputs from PTI)
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