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India's secondary long product sales volume declines in current fiscal year

29 Oct 2020 14:28 reported by Joy Liu

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According to reports, due to India’s central government’s spending on rural and urban housing and infrastructure, it is now affecting India’s secondary long-steel producers and making their credit profiles decrease 100 points in profitability.

According to another study, the domestic long steel sales volume has been declining by nearly 15% in the current fiscal year after the beginning of the COVID-19 epidemic.

Long-steel consumption relies heavily on housing projects and road construction. However, India’s central government is cutting its spending from the capital expenditure, resulting in a weak demand from the real estate sector and ultimately affects the overall market.

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