Prabhudas Lilladher has come with its March quarterly earning estimates for Metals and Mining sector. As per the research firm, it is believed that the current recovery in prices is primarily driven by restocking rather than any real pick-up in the demand.
World steel production grew marginally by 0.6% YoY in the first two months of the calendar year; courtesy a sharp slowdown in Chinese steel production and fall in production in Europe and Japan. Thanks to a weak construction demand and elevated inventory levels, Chinese steel production grew at multi-year low rate of 2.2% at 113m tonnes. On similar lines, Europe and JapanDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
