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    Clouds over steel stocks have darkened

    The after effects of a sharp cut in iron ore prices pose a threat to India’s major steel producers

    Ravi Ananthanarayanan
    June 23, 2022 / 12:58 PM IST
    Clouds over steel stocks have darkened

    (Image: Shutterstock)

    Iron ore prices are sending a signal that distress may lie ahead for the steel sector. The industry outlook had already dulled in 2022 due to a series of setbacks, including rising energy costs, China’s real estate slowdown, the Russia-Ukraine war’s impact on demand and central banks hitting the brakes on easy monetary policy, a course correction that will slow the world economy. But all of this was already known. In fact, in India, matters had turned worse after the government imposed...

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