Mumbai: Domestic steel players are likely to enjoy better profitability in the near term due to improved steel prices in the current year, supported by imposition of minimum import price (MIP) by the government, rating agency Icra said. Post the operationalisation of MIP, domestic hot-rolled coil (HRC) prices have witnessed a sharp increase of about 25 per cent from their lows reached in February 2016, according to Icra's quarterly research update report on the steel industry.
Published 02-Jun-2016 16:08 IST

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