UBM - India's Steel Sector Woes Continue As Steel Inventories Pile Up
By Sohrab Darabshaw
India's growth rate has slowed, which in turn means sluggishness in the manufacturing sector.
All of the above means lower consumption of steel.
Riding on these developments comes the news that domestic steel producers are sitting on a "larger than usual" steel inventory.
A report in the Business Standard quoted Sushim Banerjee, director general at the Institute of Steel Development Growth, as saying steel inventories are at "alarming" levels of 35 days rather than the more typical 21 days.
The total steel inventory of all primary producers in India