Sunday, October 17, 2021

Domestic sponge iron sector might report negative growth

 



The domestic sponge iron industry might report a negative growth in the ongoing December quarter "if the shortage of coal is allowed to continue", according to apex industry body SIMA.

Sponge Iron Manufacturers Association (SIMA) Executive Director Deependra Kashiva said India is expected to report a 60 percent quarter-on-quarter (q-o-q) fall in its sponge iron output during the July-September 2021 period, amid the ongoing coal crisis.

As per the JPC data, the sponge iron production growth in April-June 2021 was 70 percent, compared with January-March 2021.

This is expected to come down by 60 percent to a level of 10 percent in the second quarter ended September 30, 2021, due to the coal crisis, he said without providing any figures.

As per the JPC data, the sponge iron production growth in April-June 2021 was 70 percent, compared with January-March 2021.

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