INVENTORIES IN STEEL SECTOR ON DECLINE IN AUG
Article Abstract:
The inventories of steel producers has come down by about 116 percent in April-August 1998 when compared to the stock position of April-August 1997. This has been done by reducing production by 6.3 percent by the main producers at 38.85 lakh tonnes with an apparent growth consumption of 4.9 percent at 92.2 lakh tonnes. The total production of steel has fallen by 0.5 percent to 91.86 lakh tonnes in April-August 1998 while secondary steel producers have increased production by 4.2 percent to 53.01 lakh tonnes. The exports of steel are estimated to have increased by 2.6 percent to 7 lakh tonnes. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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STEEL COMPANIES HAVE LITTLE TO CHEER ABOUT THIS CHRISTMAS
Article Abstract:
Steel companies have been adversely affected by the declining prices of steel across the globe. The net profit of Tisco has fallen from Rs566 crore in 1995-96 to Rs322 crore in 1997-98 while that of the Steel Authority of India Ltd has crashed from Rs1320 crore to Rs133 crore. The global market for steel has also reduced as user industries like automobiles and construction have cut down production due to the economic slowdown. In order to survive, steel mills in India have started to provide value-added services and make their products according to the specifications of customers. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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