Over the past 12 months, high steel imports into India have already dampened prices and earnings of steel producers in India, said Hui Ting Sim, assistant vice president at Moody's Ratings.
The government of India needs to take steps to protect the domestic steel producers, says Ravi Uppal, MD & CEO, Jindal Steel & Power Limited.
India Ratings & Research (Ind-Ra) has revised its Outlook on Indian steel producers to Negative from Stable for H213. The Negative Outlook is in view of the higher-than-expected deterioration in the financial and liquidity profiles of rated issuers.
Fitch Ratings says that the Outlook for Fitch-rated Indian steel producers will remain Stable in H212, despite the slowdown in the growth of domestic steel demand.