National Import Monitoring System implemented for data knowledge

New delhi date. September 21, 2019, Saturday

The Steel Import Monitoring System was launched to provide advance information on steel imports to the government and stakeholders. The system was introduced in the style of US Steel Import Monitoring and Analysis System.

According to Ikra's report, the domestic steel consumption growth will be around 3-5% as compared to 5.7% of fiscal year 1, following an unprecedented slowdown in economic activity, with GDP reflecting a decline of 5% in the first quarter of fiscal year 1. Thus, the strong cost of raw materials and the sharp fall in steel prices, according to the report, will likely weaken the profitability of producers in the second quarter.

However, there seems to be some recovery in the third trimester of 1-2. According to Icra, demand for infrastructure costs is likely to increase in the second quarter of the year, in the second quarter. Industry operating trend will be challenging in FY'6.

According to Icra's analysis of the current trend, according to the indication of the 3 companies comprising 5% of the industry size, the high prices of raw materials due to high cost of raw materials and reduced demand will be controlled in the first quarter of fiscal year 1. Steel prices and poor seasonal demand are expected to make the second quarter financially viable for the steel makers.